A crack-up boom in the making

The great Ludwig von Mises first described the concept of a crack-up boom as part of the Austrian business cycle theory, based on real life events that to an unsuspecting bystander might have appeared unconnected, or perhaps even quite bizarre and counterintuitive. Indeed, such a bystander might think the same of today’s economy and would …

Václav Klaus: Remembering Gordon Tullock

It is a regrettable fact, but a fact nonetheless, that too many students of economic and monetary history have no idea where the principles and theories they espouse really came from. So many important thinkers, with unconventional and truly inquisitive minds, have been shut out of mainstream textbooks and were robbed of the prominent place …

Swiss direct democracy in action

On the last Sunday of November the Swiss citizens once again rejected efforts staged by left-leaning groups and NGOs to chip away at the nation’s long tradition of free enterprise, respect for private property and financial freedom. Two important proposals were brought before the Swiss people in a set of referendums, both targeting private companies …

Standing at a crossroads

“The more we gained knowledge of these new totalitarian systems of mass-rule, the more we realized not only their similarity of structure, but also the fact that we had to do with a type of dominance that had been known in earlier epochs. We discovered that what the ancients called “tyrannis,” or ‘cheirokratia,” what Sulla …