All tagged Murray Rothbard

End This “Expansion” Now Chairman Powell!

The central bank creates expansions and then murders its darlings, to borrow a phrase.  Austrian economists say booms are the problem, with low interest rates breathing life into ill-conceived ventures and, once hatched, keep them from death’s door, wasting capital to the detriment of society.  Recessions and depressions cleanse the economy of these malinvestments, re-aligning production with society’s collective time-preference.

Less Fed, Less Bubble

We often hear that rich are getting richer and everyone else is being left behind.  However, it is only the Austrians who point to the Fed’s policies as creating this great divide in wealth and incomes.  

Dimwit Minimum Wage Logic

If Bernie were paying attention, there is a minimum wage experiment going in real time in Venezuela right now.  Sure, there’s some serious money printing going on there and plenty of socialist schemes to keep the shelves empty.  However, the fact there’s nothing to buy hasn’t kept Venezuelan president Maduro from hiking that country’s minimum wage 24 times since 2013 when he took office.  

Tariffs to Socialism

Trade wars create winners and losers, at home and abroad.  American consumers lose, as the prices are hiked while capital and labor are misallocated. This makes everyone, over time, poorer--even the tier two real estate developer.

Politically Incorrect Architecture

“Abolish social housing, scrap prescriptive planning regulations and usher in the wholesale privatisation of our streets, squares and parks,” wrote Oliver Wainwright who was paraphrasing comments made by Patrik Schumacher shocking his architect colleagues in Berlin.  Suddenly, Schumacher became “the Trump of architecture."