Economics
Fiat Money and Socialism
For some time now I have been mulling over the possible causes of what seems to be an increase in the desire for socialism among the young. For someone of my generation (an early post [more…]
Patrick Barron
America
Keeping Economics Simple
The US Department of Defence is a major customer of many private sector suppliers, including the Boeing Company. Although relationships between customer and supplier are mutually beneficial, that is by no means the only reason [more…]
America
Is There an Economic Justification for Tariffs?
A tariff is a tax on imports that is used to satisfy a policy goal. Before the federal income tax became law in 1913, the US federal government was funded almost entirely by tariffs and [more…]
Business
The Necessary and Inevitable Recession to Come
Perhaps the most destructive premise of modern, mainstream economics is that a central bank-induced monetary/credit expansion can cause an economy to grow without adverse consequences. Let’s be perfectly clear from the start…this policy has been [more…]
Economics
Counterfeiting Money Is a Crime, Whether by the Fed or A Private Individual
A few years ago, shortly after the 2008 subprime lending disaster, the Fed sent a public relations team around the country to conduct supposedly “educational sessions” about how the Fed works and the wonderful things [more…]
Arts
The Truth About Central Banks
Most of the world takes it for granted that central banks are necessary for the smooth conduct of trade, both foreign and domestic. Nothing could be further from the truth. Let’s be clear. Central banks [more…]
Arts
A Simple Example to Explain Some Austrian Economic Principles
Simple examples can be used to explain what seem at first glance to be complex economic principles. I’ll use a hypothetical yet commonplace experience to explain how money may be used for only one of [more…]