The common belief is that inflation is the general rise in consumer prices. However, rising prices are a symptom of inflation, which really is expansion of the money supply.
On yet another crusade, U.S. authorities have sanctioned Chinese cotton imports. The sanctions won't change Chinese policies but they will create hardships for many.
One of the canards of mainstream economics is that only government can provide the "optimum" number of nonrivalrous, or public, goods. Austrian economists have never accepted that theory.
