Peter's Blog

Market Efficiency vs. Bureaucratic Expansion: A Critical Comparison

With the Trump administration ushering in a new class of bureaucrats under the auspices of private businessmen, it’s worth recalling why the phrase “government efficiency” is an oxymoron. As the Austrian School of Economics stresses, the key difference between business and bureaucracy is the ability to measure profitability. The following article was originally published by […]

The Rise of U.S. Federal Overreach: From Republic to Oligarchy

Critics of President Trump are fond of calling his administration an oligarchy of wealthy businessmen. What they fail to realize, however, is that the United States government has long been an oligarchy, prone to extracting wealth from its citizens and unaccountable even to elections.

Ending War by Ending the Fed: The Hidden Cost of Inflation

Critics of the Fed are well-versed in arguments against central banking. It enables reckless spending and creates monetary confusion, and it distorts prices for consumers. History also reveals another troubling result of central banking: more frequent and deadlier war.

Marx’s Shell Game: The Fallacy of Class Analysis

In times of economic hardship, like today, politicians often take aim at the wealthy entrepreneurship class, usually employing the rhetoric of socialists like Marx. Rather than blame the rich for their economic woes, the American people should aim their ire at those responsible: profligate spenders in Washington and their cronies.

Can Government Stimulus Truly Prevent Recessions?

Conventional wisdom says that the government can help (or is even required to) stimulate the economy, especially during a recession. As mounting evidence grows for a recession happening right now, it’s worth examining how this conventional wisdom is completely wrong and backwards. The government is typically the primary cause of recessions.

Why Vilifying the Wealthy Hurts Economic Growth

The slogan “Eat the Rich” has recently been revived following the high-profile assassination of the UnitedHealth Group’s CEO, Brian Thompson. Instead of blaming the entrepreneurial class, who tend to make all people richer, economically disillusioned Americans should lay their blame at the feet of the Federal Reserve and Federal bureaucracy, institutions that are inherently inequitable […]

Money Supply Growth Surges to 27-Month High Amid Inflation Concern

Today’s mainstream political narrative would have you believe that inflation is permanently cooling. The data tells a different story, with the money supply growing faster now than it has for more than the last two years.

Irresponsible Government Debt: The Catalyst for the Next Financial Crisis

History is replete with examples of major recessions that were ostensibly caused by mere asset bubbles, like subprime mortgages in 2008. The truth, however, is not so simple. In reality, these downturns are exacerbated and often triggered by disastrous government policy, namely excessive spending and the creation of perverse incentives.

Celebrating 50 Years of Legalized Gold: A New Year’s Milestone

For all of economic history, gold has served as the preeminent money. Individuals holding gold could rest easy knowing they had a hedge against economic uncertainty, at least until President Franklin Roosevelt made it illegal to own the yellow metal. 50 years after this tyrannical edict was repealed, sound money advocates should thank Gerald Ford […]

Fiscal Federalism: Reducing Federal Funding for Local Governments

With over $36 trillion in debt, the United States government must recklessly slash spending to avoid economic catastrophe. One often overlooked solution to this spending problem is fiscal federalism– the notion that local governments should fund themselves and not be tied to the will of Washington, D.C.