Forty years ago, on October 9, 1974, the Nobel Prize committee announced that the co-recipient of that year’s award for economics was the Austrian economist, Friedrich A. Hayek. Never was there a more deserving recognition for one of the truly great free market thinkers of modern times.
For more than a decade, now, Federal Reserve policy has been guided by the fear of one economic bogyman: the presumed danger of “price deflation.” The fear is unfounded and the inflationary “solution” only leads to disaster.
Forty years ago, during the week of June 15-22, 1974, the Austrian School of Economics was reborn during a conference in the small New England town of South Royalton, Vermont. Why was this important? Because the economists of the Austrian School have developed the most persuasive understanding of why only economic freedom can give mankind both liberty and prosperity.
Budgets/Taxes · Economics · Featured
Instead of deregulation to reduce unnecessary, stifling regulatory burdens and barriers, as both Carter and Reagan did to such fully documented success, Obama regulates mercilessly as if regulation is cost free to the economy, as the most interventionist President in American history.
Economics · Government · Politics
The American Public Transportation Association (APTA) is out with news of higher transit ridership. APTA President and CEO Michael Melaniphy characterizes the new figures as indicating “a fundamental shift going on in the way we move about our communities.” Others even characterized the results as indicating “shifting consumer preferences.” The data shows either view to be an exaggeration.
President Obama paints pretty pictures with flowery pro-growth and populist rhetoric. But the results are consistently the opposite of his promises.
Budgets/Taxes · Economics · Featured · FIRE
The full bill for Obama’s failed economic policies has yet to arrive. But no such explosion of debt has ever escaped a day of reckoning, and no such monetary surge has ever had a happy ending.
Budgets/Taxes · Economics · Featured · Politics
At the end of 2013, after serving five years, Barack Obama is a complete failure as President, by his own standards, as reflected in his own words.
Budgets/Taxes · Economics · Featured · Health Care · Politics
Earlier this month, President Obama tried to change the subject from Obamacare by pitching some rhetoric on “equality” to rally his Far Left base. Not much thoughtful or helpful is[…]
Budgets/Taxes · Economics · Featured · Government
As a longtime book reviewer, I have read a growing stack of books warning about a financial collapse, but Holland’s book is not only based in the actual debt, but is written in a manner that even a person who has no knowledge of this issue can understand.
Economics · Featured · Regulation
One hundred years ago this month, on December 23, 1913, the Congress passed the Federal Reserve Act, establishing a national central-banking system in the United States. The governing board of the Federal Reserve was organized on August 12, 1914, and the Federal Reserve banks opened for operation on November 16, 1914.
Economics · Featured · Government · Regulation
A common fallacy is that the Great Depression was ended by the explosive spending of World War II. But World War II actually institutionalized the sharp decline in the standard of living caused by the Depression.
Budgets/Taxes · Economics · Featured · Random
Ninety years ago, on November 15, 1923, the Great German Inflation came to an end when the monetary printing presses were finally shut down, and the economic havoc came to an end. Its lessons are worth remembering.
Budgets/Taxes · Economics · Featured · Politics · Regulation
President Obama is going to hit his perpetual campaign trail to tell Americans that the economy is turning around and that his policies of the first four years have worked. They have not.
Budgets/Taxes · Economics · Featured · Politics
President Obama likes to pose as a martyred man, because when he entered office, the economy was in a recession. But the recession soon ended, following the pattern of the[…]
President Reagan famously said “Government is not the answer to the problem. Government IS the problem.” But keeping with his unwavering theme as the unrelenting opposite of Reagan in every[…]
In February, 2009, I wrote for the Wall Street Journal an article entitled Reaganomics versus Obamanomics. The article explained that the emerging Obamanomics was pursuing exactly the opposite of every policy of the[…]
Budgets/Taxes · Economics · Liberty · Politics
“Do not blame Caesar, blame the people of Rome who have so enthusiastically acclaimed and adored him and rejoiced in their loss of freedom and danced in his path and[…]
The Democratric Party controlled mainstream media reported the November unemployment report as “better than expected.” But in reality it showed that America is stumbling along into a second Great Depression under “Obamanomics”[…]
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