Inflationary Booms Without Price Inflation

From the Austrian perspective, it can be tempting to make predictions in regards to increases in prices due to the massive amount of credit expansion and inflation in the US. Furthermore, one might wonder how to answer critics of the Austrian theory of the business cycle, who point out inflation is not manifesting itself in… Read More

How Currency Debasement Increases Taxation

That moment when you realize not only is taxation theft and debasing the currency is a tax and thus theft, but since accounting practices do not account for currency depreciation, a false accounting exists of higher than otherwise would be income and profit perpetually increasing said theft. Ludwig von Mises writes in The Theory of… Read More

Mises v. Hayek

An excellent article to check out is this Hans-Hermann Hoppe article in regards to the difference between Ludwig von Mises and F.A. Hayek. In the article Hoppe briefly discusses the popularity of Hayek over Mises, concluding that the difference is one of political philosophy.  Hayek was a social democrat.  Mises was a laissez-faire radical.  In… Read More

Consumption Tax?

Part of Gary Johnson’s tax reform plan is implementation of a national sales tax, what he calls a consumption tax, while he repeals all income tax. However, a national sales tax is an income tax which not only reduces consumption but also savings and investment. As Rothbard states on pages 1161-1162 in Man, Economy, and State… Read More

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