2020 July BankNotes
This Lara-Murphy Report (LMR) article was reprinted with permission. This and many more articles related to IBC and Austrian Economics are published monthly in the LMR. Subscriptions are available at www.usatrustonline.com
2020 June BankNotes
Humanity has been asking what is happiness and how to achieve it since the dawn of time, but still without a definitive resolution. The divergence of views on this subject is enormous, although it may be a good thing, because each individual can pursue happiness in their own way, which—according to the Declaration of Independence—is an inalienable right.
2020 February BankNotes
On March 27, 2019 — not two months after that year’s Think Tank — Nelson graduated (Passed Away). Things didn’t feel the same this time as we shuttled downtown late Tuesday morning. Though attendance this year would be the greatest in eight years, this one man’s absence was obvious and painful.
2019 December BankNotes
The newfound openness of large numbers of Americans to socialism is, by now, a well documented phenomenon. According to a Gallup poll from earlier this year, 43% of Americans now believe that some form of socialism would be a good thing, in contrast to 51% who are still against it. A Harris poll found that four in ten Americans prefer socialism to capitalism. The trend is particular apparent in the young: another Gallup poll showed that as recently as 2010, 68% of people between 18 and 29 approved of capitalism, with only 51% approving of socialism, whereas in 2018, while the percentage among this age group favoring socialism was unchanged at 51%, those in favor of capitalism had dropped precipitously to 45%
2019 November BankNotes
Although the roughly two million affected residents of Northern California are recovering from the rolling blackouts imposed by utility PG&E, the company has warned that these “fire safety outages” may be periodically required for another decade. Naturally, California Governor Gavin Newsom decried the debacle as yet another example of “greed and neglect.” Yet as IER analyst Jordan McGillis explained in a previous article, the episode actually showcases the dangers of a government-imposed monopoly in electricity provision. In this article, I’ll elaborate on McGillis’ insights and show why the conventional economic rationale for government regulation of electric utilities is fundamentally flawed. Read More in BankNotes