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Seemingly endless amounts of fiscal and monetary stimulus will keep prices rising in the near term. But if the banking sector and other bubble industries weaken, we will eventually see deflation as new loan activity lessens.  Original Article: "Boom to Bust:

[Chapter 19 of Rothbard's newly edited and released Conceived in Liberty, vol. 5, The New Republic: 1784–1791.] A particularly vital aspect of the Constitution was the procedure to be set up for its ratification. The draft proposed that the Constitution be submitted to Congress

Over a year ago, the covid panic shook the world. We were told it would only be “15 days to flatten the curve” as businesses were locked down, “nonessential” employees were forced out of work (I’ve written about the myth

What use is economic theory in business? It’s indispensable. It’s the necessary starting point for all businesses, brands and projects. Only when you have mastered theory can you master the navigation of specific situations, and be confident in your good

The Federal Reserve and European Central Bank repeat that the recent inflationary spike is “transitory.” The problem is that investors do not buy it. Inflation is always a monetary phenomenon, and this time is not different. What central banks call transitory effects, and the impact of

After three months in a row of hitting new all-time highs, money supply growth slowed in March, dropping to a 10-month low.  This slowdown, however,  does not suggest any significant departure from the past year's high growth in money supply—which came

American journalists and academics have invented a fairy tale in which "free market orthodoxy" has dominated political thinking in America for the past forty years. This is not even slightly true, but pundits repeat the lie again and again. Original Article:

“Every change in the money relation alters … the conditions of the individual members of society. Some become richer, some poorer.” – Mises, Human Action, p. 414. New money enters the economy at a particular point. It does not enter in

Democracy is only acceptable when the outcome is what the ruling class wants. Fortunately, the federal courts are always handy to overturn the results of free elections.  Original Article: "The Ruling Class Only Cares about Democracy When It Helps Them" This Audio

Summerlin, the suburb of west Las Vegas creeping ever closer to the mountains, looks to be crowded with fully paved streets, streetlights, block walls, and blue top lots. With lumber, labor, and other materials in short supply, home construction can’t