The American state has relied on the tools of monetary and fiscal stimulus to inflate its way out of every new economic crisis. The core of our out-of-control interventionist economy will not be touched by the election of either Harris or Trump.
It is far too late for any Fed maneuver on policy rates to preempt huge overinvestment, malinvestment, and excess leverage. All these vulnerabilities are already present. Bold rate cuts now may possibly delay the looming crisis for a short time but not cancel it.
Reconstructing Reconstruction
David Gordon Reviews: Reconstruction: Destroying the Republic and Creating and Empire
by James Ronald Kennedy
James Ronald Kennedy is right that the policy of centralized despotism that Lincoln instituted has continued down to the present and has enslaved us all.
Neither the Trump nor the Harris proposals indicate they have any idea of how to deal with stagflation. Instead, they call for more government intervention—Trump for tariffs and Harris for more individual and business taxes and for energy policies. Woe be to us!
The presidency—by which I mean the executive state—is the sum total of American tyranny. A world with any superpower at all is a world where no freedoms are safe.
New Austrian Insights
David Gordon Reviews: A Modern Guide to Austrian Economics
by Per Bylund
It should be clear from the articles in this book that the Austrian School is thriving. Per Bylund has rendered a great service in bringing the scholarship in A Modern Guide to Austrian Economics to our attention.
