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Delusions of Omnipotence and Shifting Backdrops: USA and EU Launch Giant Industrial Policy Programs

The USA and the EU have recently been in a subsidy race—industrial policy by bureaucrats. The innovative forces of the market are being undermined and the inefficiency of these measures is predictable.

Capitalism, Socialism and Our Future: Lecture by Peter J. Boettke in Vienna (May 8, 2023)

The debate between capitalism and socialism is more topical than ever. Which is the relevance of this debate for the future of capitalism, the market economy and liberal economic policy? More information and registration here.

Socially Unjust Inflation: Why Recessions Are Inevitable and Salutary

Inflation is profoundly socially unjust. Its causes lie above all in an expansionary monetary policy, and this must be stopped. If policymakers want to prevent the inevitable recession that will follow, they will only make the problems worse.

EU Taxonomy: The Road to a Green Planned Economy

With its so-called taxonomy, the European Union is planning an economic structure that will be characterized by bureaucracy and malinvestment. The drastic consequences for productivity and prosperity will only gradually become apparent.

Leviathan Wobbles and Wavers—But the Citizens are Ultimately Responsible for It

In Germany, there is a growing gap between the inflation of the state apparatus and its ability to fulfill its tasks. Politics suffers from political fantasies of omnipotence and constitutional ignorance. Who is to blame?

Global Governance and Regulation

AUSTRIAN ACADEMY 2022: Experienced economist Philip Booth, formerly research director of the London Institute of Economic Affairs and now a professor at Catholic Twickenham University in London, introduces the complex issue of global-level regulation from a consistently liberal perspective.

The Inflation Problem: Short-, Medium- and Long-Term Solutions

In principle, it is the task of central banks to anticipate and combat inflationary risks. But since central banks failed to recognize inflationary pressures for a long time and then downplayed them as temporary, they can no longer contain inflation in a hurry. What solutions are feasible?

Politics Is Not about the Friend-Enemy Distinction, but a Struggle for the Rule of Law

Since Putin’s war against Ukraine, the West once again has a clear enemy. Many now recall Carl Schmitt, who saw the essence of the political in the distinction between friend and enemy. But that is too simplistic.

The ECB Faces a Predicament, the Euro an Impasse

With the now obvious failure of the ECB’s inflationary low interest rate policy, things are now also bad for the euro. The “whatever it takes” approach to saving the euro has reached a point where a reconsideration is necessary.

“Doux Commerce,” or the Peacemaking Power of Trade: Just a Dangerous Illusion?

Does trade among nations promote peace? The liberal-minded Enlightenment affirmed this under the phrase “doux commerce.” At present, however, we are witnessing how economically closely linked nations are at war with each other.

Is the West at War with Russia?

Are the costs of sanctions against Russia too high and are we ultimately harming ourselves? That depends on how we answer the question of whether it is in our own interest that Ukraine does not lose the war against Russia.

The Governments Were Financed Through by the Printing Press, And Now We Have Inflation

The rise in inflation does not fall from the sky. Inflation means general devaluation of money, not an increase in individual prices. It is the result of the money glut of the last several decades. Avoiding the dramatic consequences could make things uncomfortable.