Other Schools of Thought

Keynesians enthusiastically point to government as the solution for the faltering recovery.

Without market competition and discipline, government has no idea what people really want. Police services are no exception.

The 20 years known as the interwar years is a pivotal period both for good and ill. For anyone that revers liberty, the interwar period is absolutely crucial for understanding and interpreting today’s geopolitical circumstances. The period certainly produced a design for the world to come.

The minimum wage is just another weapon in the arsenal of the misguided progressive trying to “help” the poor. People whose productive value is less than the minimum wage are de facto unemployable. They are denied the opportunity to gain experience and skills, and their exclusion from the job market is a net loss to society.

The Bernanke Fed followed Keynes’s advice. The way to avoid a new slump is to keep interest rates low for as far as the eye can see as a way to overcome a lack of “animal sprits” and thus sustain a quasi-boom. As long as inflation is low, no harm, no foul. In fact, as the thinking goes, more inflation might be beneficial.

Pope Francis’s compassion for the poor is overwhelmed by his confusion about the market economy. Economic liberty has done more to elevate the living standards of the general population than any other form of social organization in history. It is the only system which does not trust in the goodness of those with power.

The myth endures that after Hitler inherited a country ravaged by the Great Depression in 1933, his aggressive policies turned the nation around and created an economic powerhouse. But the truth is something far different. It became a story of rationing, shortages, and misery in the Third Reich.

A paper currency system contains the seeds of its own destruction. The temptation for the monopolist money producer to increase the supply is almost irresistible. A drastic reduction of government spending and deficits is not very likely either, given the incentives for politicians in democracies. So what is to come?

Tom Woods, guest host of “The Peter Schiff Show,” interviews Peter Klein, who discusses how the anti-Apartheid movement, Mandela includ

The only way to provide good medical services at a reasonable cost is to bring back market pricing. We need the market not only to get supply and demand back into balance, but also to decide what exactly will be supplied. When was the last time that anyone saw a normal market price in medicine?