One of the most examined and discussed topics in all of economics is the infamous, dreaded business cycle. The pattern it displays is a familiar one: first a boom where the economy is strong, and then a sudden and unwelcome bust that severely weakens the economy. Despite the copious amount…

The economic question of interest is the most persistent topic of debate in the history of economic thought. From debates on its legitimacy amongst the scholastics to the modern divisions on its ultimate source, it seems as if the topic of interest will never be quite “settled science”. Even among…

In his paper, “The Structure of Production Reconsidered”, Dr. Guido Hulsmann challenges the Austrian School orthodoxy on the question of capital theory and roundaboutness. The majority of Austrians since Eugen von Bohm-Bawerk have held that as interest rates decrease, and higher levels of investment are thereby induced, the economy as…

While storied to some, and archaic to others, no one can deny the long history of the subsistence fund in the lineage of economic thought. It was utilized by nearly all the classical economists including Adam Smith, David Ricardo, and John Stuart Mill. As the years have progressed, however, the…

The concept of “time preference” is crucial to the study of economics. The concept itself — of preferring present satisfaction to future satisfaction — is not just a common feature of human psychology, but ingrained in the Praxeological framework of the human mind. Human beings act; they utilize means for…

Is there a Libertarian right to secession? The majority of Libertarians would answer in the affirmative. Moreover, Libertarians have historically been supportive of secessionist movements all over the world, including many current secessionist or secession-lite movements, such as “Brexit” in the United Kingdom and the “Texit” or “Cal-Exit” movements in…

On January 11, 2023, Michael Malice hosted a debate on his podcast “Your Welcome” between Curtis Yarvin and Dave Smith. The subject of the debate was Libertarianism. Smith argued for and Yarvin argued against. I found the debate very thought-provoking, especially given that Yarvin has the perspective of being a…

Carl Menger was the founder of the Austrian School of Economics, one of the central figures of the Marginal Revolution, author of “Principles of Economics”, and one of the foremost European scholars of his day. What follows is the story of how he (indirectly) started World War I. Very early…

One of the foremost arguments in favor of the existence of the state is the consequentialist argument. This argument posits that the state’s actions in society are justified because they make society a better place — or in more proper terms — increase society’s total welfare. While not always formally…