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Read the November–December Issue

Inside This Issue

From the Editor—November/December 2024
by Ryan McMaken

Another national election has come and gone, and like many of our readers, I think the less awful candidate won. After all, a victory for Kamala Harris was likely to be interpreted as an endorsement of the status quo and a “mandate” for more of the same.

Economists and the State: From Enemies to Friends
by Joseph T. Salerno

The state and its friends reject the scarcity principle and uphold its polar opposite, the Santa Claus principle.

The Bailout Fallacy
David Gordon Reviews: What Went Wrong with Capitalism
by Ruchir Sharma

Ruchir Sharma, a non-Austrian, gets it right. He lends strong support to the Austrian position that because competition moves resources to where they best fulfill consumer demand, the government must not interfere with this process by bailing out businesses that fail.

Printing Power: The Central Bank and the State
by Alex J. Pollock

Ready and generous deficit financing is key to state power. This was most recently evident in the gigantic deficits of the covid financial and economic crisis and the vast subsidies of its aftermath, which led, as we have said, to peak Fed in March 2022.

Selections from Our Enemy, the State: Supports Summit 2024
by Mises Institute

The theme that connected all of the weekend’s talks at the 2024 Supports Summit was “Our Enemy, the State.” It was a gathering of the "remnant," those who recognize that the government is our common enemy. These are selections from several of the talks.

Nock's Enemy, the State
David Gordon Reviews: Our Enemy, the State
by Albert Jay Nock

There are two ways in which people in a community can coexist. One is by peaceful cooperation, and the other is by taking what others have produced.

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