Keynesian Accounting Card Tricks Create Absurd Theories

Storms of comments on the economic collapse of the lockdown have been met with some reoccurring statements from the Keynesians and MMT believers. Nikki Haley wrote on Twitter that state budgets should have had rainy day funds ready for events like this, which seems like an obvious comment. She was then attacked for now knowing … Continue reading Keynesian Accounting Card Tricks Create Absurd Theories

Exploding the “National Security” Case Against Free Trade

Protectionism might be the oldest economic fallacy that will never die. We have been refuting it for hundreds of years and will still be refuting it for hundreds more.  But protectionist arguments take many forms, going in and out of style. “We understand that tariffs make products more expensive for the consumer”, they tell us, … Continue reading Exploding the “National Security” Case Against Free Trade

Thank Government Intervention for Hospital Shortages

It has been better for Universal Healthcare advocates to ignore Certificate of Need (CON) laws to advance their position. That was before the Coronavirus Pandemic gave the regulations recognition, along with the hospital shortages they cause.  If we ask our interventionist friends, without mentioning CON, if hypothetically they would support a regulation that forces a … Continue reading Thank Government Intervention for Hospital Shortages

An Upcoming Downturn is an “A Priori” Fact

For the man on the street the multiple stock market crashes in March were an unforeseen circumstance caused by the Coronavirus Pandemic, disrupting an otherwise strong economy. For the Austrian Economists, the reality was no surprise, and neither were the other major recessions of the 20th century. Before the Great Depression, Austrian economist Ludwig Von … Continue reading An Upcoming Downturn is an “A Priori” Fact

“Price Gouging” is Scarcity Extended to the Individual

The price gouging explanations have been back for weeks, with the usual, and correct, defenses of the market and how it allocates scarce resources during a crisis. Higher prices are a result of higher demand immediately after a crisis, with a greater disequilibrium from supply. Factors of production cannot produce more of the specific product … Continue reading “Price Gouging” is Scarcity Extended to the Individual