Contrary to Milton Friedman’s thesis that the decline in the money supply caused the Great Depression, the real reason was the collapse of real savings, which was due to loose monetary policies by the Federal Reserve.

The current explosion in rental and home prices is the direct result of government intervention aimed at making it easier to buy a house. Mises wrote that government intervention into the market tends to make things worse. He was right.

While President Biden’s inflationary economy continues to falter, the president proposes to outlaw bank overdraft fees, ostensibly to help lower-income Americans. Bank fees, however, are not the biggest threat consumers face; inflation and intervention are the real threats.

What began as supposedly a free trade union has been turning into an authoritarian, interventionist nightmare. A recent speech by a top European Union commissioner shows the sad direction the EU is heading.

A common complaint is that the 1964 Civil Rights Act started in the “right direction,” valuing so-called equality of opportunity, but then went off the rails with “equality of result.” In truth, the act cannot be reconciled with a libertarian society.

Even as the Federal Reserve continues to manipulate interest rates to “fight” the results of the business cycle, Austrian economics teaches that business cycles occur because of the manipulation. They never learn.

Environmentalists insist on banning fossil fuels and refrigerant gasses in order to end heat waves. That means people will face future heat waves (which will always be with us) without air conditioning, bringing even more heat-related deaths.

For all of the media ballyhoo about the CHIPS Act, it really is a page out of the old five-year plans from the Soviet Union. The CHIPS Act will have the same success as befell the Soviets.

Bob critiques MMT godfather Warren Mosler's recent interview where he argued that the Fed rate hikes have been fueling the strong economy.

Mainstream economists often claim that “market failure” is everywhere. However, when one investigates these so-called failures, one has to conclude that government intervention often is behind them.