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“There is no doubt that when a fractional reserve bank discounts commercial paper (real bills) it creates money (perfect monetary substitutes).”
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Despite statements from Biden and other progressives, profits in a market economy are not a form of plunder. Instead, they represent entrepreneurial gains that...
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F.A. Hayek coined the term spontaneous order to point out that the prosperous societies are also societies where people are free to pursue their...
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A strategy for liberty must be both optimistic and realistic. Murray Rothbard understood that important point and laid out strategies and their moral justification.
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Mainstream economists believe that economic theory is valid when it “predicts” economic actions or trends. Austrian economists, however, say that the purpose of economic...
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While Social Security is not exactly a pension system, it has had a negative effect on private pension plans and has discouraged people from...
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Thomas Woods has reminded us more than once that “no matter who you vote for, you get John McCain.” House Speaker Mike Johnson is...
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Few ideas are as closely associated with Marxism, writes Ralph Raico, as the concepts of class and class conflict. But the concept itself, with...
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As Murray Rothbard noted, reason is a powerful tool to help us discern how to thrive in our world. Government, through propaganda and interference...
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How many people in our history―a couple hundred years―took the oath of office, and how many times did they violate the oath of office?
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In return for power, positions, and money, intellectuals persuade the majority that their government is good, wise, and at least inevitable.
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The government is determined to get between us and the truth.
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Today we are featuring the winning essays in the Student Essay Contest for undergraduates at the Austrian Economics Research Conference.
