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On June 20, the Pennsylvania House of Representatives passed a bill to raise the commonwealth’s minimum wage to $15 per hour by 2026. Although the bill is unlikely to pass the state senate, it seems only a matter of time before the minimum wage is raised from its current $7.25 per hour, where it has been since 2006. The Lesson Those supporting

News here in the USA has been full of the latest farce known as raising or not raising the debt ceiling. After the usual dog-and-pony show, a budget deal was reached. But was it progress? It was a foregone conclusion that the debt ceiling would be raised, yet again, for the simple mathematical reason that unless the budget is cut, via spending

Since the Bretton Woods Agreement in 1944, the dollar has been the world’s preferred reserve currency—the major trading nations of the world were willing to hold dollars in vast amounts to satisfy their need for a readily accepted worldwide payment medium. Even when, in 1971, the United States violated its solemn promise to redeem its dollars for

According to  Wikipedia , Bernie Madoff ran the world’s largest Ponzi scheme. The losses were estimated to be as high as $65 billion. Madoff had promised to invest his customers’ money in productive enterprises and pay them generous returns, when in fact he spent the money and manufactured fake statements. His returns to his customers were funded

The purpose of this essay is not to convince the reader of the necessity for change. It is to present some commonsense policy changes to attempt to mitigate the economic harm that has been done to Western economies, especially to the United States and the United Kingdom, since the end of World War II. Please watch Godfrey Bloom and Alasdair

The end of world dollar hegemony is coming and hardly anyone in government is taking notice or even understands what this means. Since the Bretton Woods Conference in 1944, the dollar has been the only currency accepted throughout the world for settlement of international trade accounts among nations. Prior to 1944, physical gold was used for

In a recent essay , I explained how over time the US abused its responsibility to control the supply of dollars, the world’s premier reserve currency for settling international trade accounts among nations. This abrogation of its duties is leading to the likely adoption of a new reserve currency, commodity based and controlled not by one nation

Despite much anticipation, the economic recovery plan proposed by Britain’s Tory Party after the departure of former prime minister, Boris Johnson, is missing one key ingredient—spending cuts. The new “temporary budget” presented by short-term chancellor of the exchequer  Kwasi Kwarteng  proposed tax cuts and regulatory reform but not spending

Is it possible, or even desirable, for economic freedom and progress to be compatible with authoritarianism? Although some may believe so, this is a fallacy. Freedom is indivisible. Political and economic freedom cannot be separated. This is the position of Ludwig von Mises himself. In Planning for Freedom , he says , “Tyranny is the political

There are many good recommendations promoted by Austrian school economists for improving the economy. Although we enjoy successes periodically, most--such as deregulating trucking and airline pricing--involve eliminating previous government interventions. These successes are to be celebrated, of course. But no one can deny that government