Fiscal Theory

By decreasing the real output derived from national resources in this manner, the VAT necessarily decreases the material standard of living for all of a nation's consumers.

Austrian economists are not fooled, because they reject the idea of empirical data in the validation of theory in the social sciences.

If you follow the Austrian recipe of allowing liquidation of bankrupt firms and debt, allowing prices to fall without monetary inflation, not propping up employment or subsidizing unemployment, and not discouraging hoarding, you will end up with the quickest possible recovery and minimize the magnitude of economic pain.

Today is Earth day, and a week ago we “celebrated” tax day.

As the president signs the trillion-dollar stimulus package into law, financial networks are abuzz with investment pundits speculating on what comp

What permits real economic growth is an improvement in the investment infrastructure of the production process. What makes the improvement possible is real savings.

Just as "war is too important to be left to the generals," accounting is too vital for the economy and everyone's finances to have been left to the experts.

Spend your time reading Wiggin and Bonner's book, buying gold, and avoiding taxes.

Interviewed on American Vigilance Coast to Coast with Blake and Mike, 12 October 2008.

Even simple people will discover that Keynes did not teach us how to perform the "miracle ... of turning a stone into bread," but the not at all miraculous procedure of eating the seed corn.