Tag Archives: Featured

Persistently loose monetary policies always have negative growth and distributional effects that impair political stability. In extreme cases, there are civil wars and armed conflicts between countries. Original Article: “Inflation, War, and Oil: How Today’s Crises Are Rehashing the 1970s” Consumer price inflation has risen to 8.3 percent in April 2022 in the United States and 7.5 percent in the euro area. This raises the question of who is responsible. In the US,...

As should be clear by now, Francis Fukuyama’s declaration in The End of History: The Last Man (1992) that we had arrived at “the end of history” did not mean that classical liberalism, or laissez-faire economics, had emerged victorious over communism and fascism, or that the final ideological hegemony signaled the end of socialism. In fact, for Fukuyama, the terminus of history was always democratic socialism or social democracy. As Hans-Hermann Hoppe noted in...

High inflation has captured the headlines as of late particularly as CPI recently hit the highest levels since 1981. Some are even suggesting we will face hyperinflation. However, while inflation is certainly present, the question to be answered is whether it will remain that way, or if the worst may already be behind us? To answer that question, let’s define the difference between an inflationary increase and hyperinflation. Not surprisingly, as Milton Friedman...

The overwhelming majority of products with packaging designed to appeal to children contain too much sugar, salt or fat, report Le Matin Dimanche and SonntagsZeitung newspapers. This is according to a survey conducted around Easter by the consumer organisation Fédération romande de consommateurs (FRC) and its counterparts in the German and Italian-speaking parts of Switzerland. These consumer groups analysed 344 goods targeting children aged over three years sold in...

The sooner we start preparing for degrowth, the better off we’ll be. A Chinese proverb captures this succinctly: By the time you’re thirsty, it’s too late to dig a well. Let’s consider livelihood options in an unsustainable economy of extremes that are unraveling, an economy that is being forced to transition to Degrowth. Nassim Taleb’s book Antifragile explains the differences between fragile systems (systems that cannot survive instability), resilient systems...

The African Continental Free Trade Area (AfCFTA) is the world’s largest free trade area by the number of countries. It is the most ambitious and, given demographic trends, the most promising free trade project on earth. The AfCFTA matters very much to Africa’s economies separately and to the continent’s collaborative and integrated economic development. If successful, it also carries significant implications for the global economy. As such, the AfCFTA matters. Not...

What would “unconscionably excessive” even look, legally speaking? More to the issue, who gets to decide what constitutes “excessive?” The way the phrase has been inserted, it’s as if Congress today seeks to plant its members on some incorporeal higher plane than mere physical substance, too, diving deep into the moral consciousness of the nation and economy in order justify taking general action. Just last week, the House of Representatives passed a bill which...

While supporters of the Biden administration fault Putin for shortages, Austrian economists know the answer lies in Washington’s monetary and economic mismanagement. Original Article: “Austrian Economists Are Not Surprised by the Shortages” In the last few years, it seems as if there has been a hot new story about a different commodity facing some form of shortage every single day. Most recently we have seen a baby formula shortage. However, that is most certainly...

Switzerland is considering emergency stockpiling of plastic packaging as the Ukraine war brings a world shortage of packaging material, reports the NZZ am Sonntag. Up to now the government has only stockpiled plastic to be able to produce disinfectant bottles. “With the experiences from the pandemic as well as the changed availabilities and strong price developments, the needs are being reviewed,” the Federal Office for National Economic SupplyExternal link confirmed...

The Austrian Economics Center and the Hayek Institut congratulate Deirdre McCloskey on becoming a Fellow of the Erasmus Historical and Cultural Research Forum. Next week, on June 1, the London School of Economics is celebrating its Deirdre McCloskey inaugural lecture as a Fellow of the Erasmus Forum. This inaugural edition of the lecture will be held by McCloskey herself on The Near Impossibility of Policy. We at the Austrian Economics Center want to...