Politics

Belief in the fairy tale known as Modern Monetary Theory not only is endemic in US academic and government circles, but is also making headway in Great Britain. We are being forced to learn all over again the lessons of inflation.

International organizations like the EU and UN are creations of states and serve the states’ elites. We can’t “improve” them or make them more “efficient.”

By their nature, free markets promote harmony between people and increase overall standards of living. This view is radically different from the ones promoted by Marxists who believe that only “class interests” matter.

Boom, bust, repeat. The Fed fuels bubbles, and now we’re watching them pop. Mark Thornton joins Scott Horton to dissect the economy’s next moves.

This episode explores the economic implications of deflation, debunking the mainstream fear that falling prices cripple economic growth.

Abraham Lincoln is best known for his role as a wartime president, but his economic policies were a precursor to the New Deal. From railroad subsidies to a national banking system, Lincoln paved the way to the Progressive Era and beyond.

Thanks to the reckless policies of the Federal Reserve, businesses are now facing the realities of an economy ravaged by inflation. Look for more signs that say “Closing.”

Trump’s trade policy is structured on creating scarcity. Scarcity does not help either consumers, or producers that need an abundance of goods to produce new products.

The end result will be an even more legalized theft as American producers that use imported parts for their own manufactured products are plundered by tariffs.

This week in Friday Philosophy, David Gordon reviews The Tariff Superstition: Why Protectionism Always Fails and Who Really Pays the Price by Marcel Kedosa, who levies devastating arguments against protective tariffs, sometimes using the same arguments used by Murray Rothbard.