A common refrain among college fans is, "The Transfer Portal and NIL are ruining college sports." But are they? Before we can answer that question, we have to be able to explain what is happening, and Austrian economics provides the best analytical tools.
US coins in circulation get damaged and are eligible to be redeemed through the US Mint Mutilated Coin Redemption Program, begun in 1911.
As Joseph Schumpeter noted, markets need “creative destruction” to survive and advance. However, Europe‘s Digital Market Act (DMA)—while written to ostensibly protect competition—gives the digital economy uncreative destruction.
Critics of free markets claim that the 1980s and 90s were near-pure laissez-faire when, in reality, the regulatory state only got stronger.
Murray Rothbard wrote that egalitarianism is a “revolt against nature.” Progressives claim that inequality harms society and is morally unacceptable, but in reality, it is necessary for division of labor, which enables social cooperation.
The great free-market classical liberal William Leggett believed that Americans do not need politicians telling us on which days Americans ought to be thankful.
"Hurry up and wait" is often the reality of medical care. We shouldn't be surprised to know that long lines and government intervention go together.
Those carrying out government directives are even less bound by law than they were a few years ago, and talk about new bureaucrats is beginning to resemble the Kremlinology of the Cold War.
Most economic analysts predict that the US is about to enter into a cyclical recession. Even Austrian School economists (like me) agree.
Washington has wielded the sanctions weapon against nearly a third of all nations on earth. It is time to rethink these policies, and one hopes the incoming Trump administration will do just that and change course.
