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.
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.
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?
“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.
The Left’s Blindness to History: The Benevolent View of Russia Has Proved Fatal
It is perfectly legitimate to point out the dangers of an uncontrolled escalation of the Ukraine war. Left-wing intellectuals who do so, however, have largely adopted Putin’s propagandist view. Behind it, however, lies a dangerous ideology.