What “Capitalism” Really Means

Capitalism is characterized by the private ownership of capital, coming from Lockean homesteading principles, and not from state coercion and force.

An Austrian Perspective on Tariffs

The election of Donald Trump has revived debate about tariffs and their effects. Austrian economists point out that the damage tariffs impose

There Is No “Efficient” Government

We hear of many schemes to promote government "efficiency." The problem is that the very nature of government makes “efficiency” impossible.

Bankers, Fed Origins, and World War I

The First World War was critical to boosting the influence of that child of progressivism and Wall Street corporatism: the Federal Reserve