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Prices Reflect Exchange Ratios Prices, as Menger points out in his Grundsätze, emerge as an accidental phenomenon. They are not the essence of economic activity. Prices are fortuitous insofar as they are the unintended result of an economic exchange that has

Saifedean Ammous is a knowledge entrepreneur. He creates new knowledge that’s valued by his customers, because it helps them to think better and better informs their actions. He carefully appraises the knowledge provided by great thinkers of the past, and re-presents

It is common for commentators and economists to refer to something called the “economy,” which sometimes performs well and at other times poorly. The “economy” is presented as a living entity apart from individuals. For example, various experts report that the “economy”

Even at a "mere" two-percent level, cumulative price increases over time are nothing to scoff at. Even worse, if we look at what people really spend money on, price inflation doesn't much reflect the conclusions of "official" stats. Original Article: "Two

Fifty years after Nixon closed the gold window, prices are heading toward 1970s-era increases. Yet the Fed cannot increase interest rates as long as the politicians keep creating billions of new debts. Original Article: "The Secret Ronald Reagan Told Me about

British Columbia's supreme court recently upheld the province’s restrictions on privately funded healthcare, despite the pain and suffering inflicted on people who have been victimized by the government’s broken promise to provide universal healthcare. Justice John Steeves said his decision

Question: Suppose the Fed doubles the supply of ”high-powered money” (monetary base) from around 15 percent to 30 percent of US GDP over a period of less than two years, then announces that the pace of increase will slow to

John Tamny chronicles the profound ignorance and malfeasance of policy makers at all levels during 2020. Does the varied response to the virus, across nations and among US states, show the path to a far more decentralized political future? Or

Was Covid merely the excuse to justify new police powers under the guise of public heath—powers politicians will use to impose draconian controls in the future? Recorded in Colorado Springs on August 21, 2021. Special thanks to William Brennan for sponsoring

After more than a year of unprecedented state intervention in our private lives, have Americans accepted a grim "new normal"? Recorded in Colorado Springs on August 21, 2021. Special thanks to William Brennan for sponsoring this event.