Peter's Blog

Tracing the distribution of risk is an important method that is helpful for understanding the trade-offs of any government action. Almost every government action reduces risk for some group and repackages the risk and forces another group to bear it. The government often serves as a hedge against risk, but it is important to understand […]

Regulation is routinely sold to the public as consumer protection, but its actual effect is to shield incumbent firms from competition by controlling who may enter a market and how they may operate. The airline industry illustrates this dynamic well, where a state-organized cartel produces the illusion of competing brands while regulatory minimums quietly become […]

The Trump administration has taken equity stakes in roughly 30 American companies, effectively turning the Commerce Department into a political venture capitalist rather than a neutral overseer of markets. Critics across the political spectrum warn that this arrangement distorts capital allocation by signaling government backing for favored firms, pulling investment away from businesses that succeed […]

Governments consistently believe they can outlaw the law of supply and demand, and Ontario’s price caps on World Cup resale tickets are only the latest example. The predictable result is not fairer prices but a black market, proving once again that intervention does not eliminate scarcity, it just pushes the exchange underground. The following article […]

As wealth inequality continues to rise, many are quick to blame billionaires for society’s ills. However, focusing on individual wealthy people obscures the underlying institutional factors that shape economic outcomes. Rather than vilifying the rich, we should examine how government policies and central bank interventions create perverse incentives that concentrate wealth and distort markets. The […]

Americans are increasingly anxious about artificial intelligence and what it means for their jobs, and politicians on both sides of the Pacific have begun promising to manage the transition. But the real question isn’t whether AI will displace certain jobs (that kind of creative destruction is the normal engine of economic progress); it’s whether the […]

The debate over taxing the rich has returned to the headlines, with progressives arguing that no one can legitimately earn a billion dollars and conservatives firing back that wealth at the top reflects risk-taking and value creation. Both sides, however, miss the deeper truth: a century of government intervention has so warped the economy that […]

On Wednesday’s episode of The Peter Schiff Show, Peter dissects Fed Chair Jerome Powell’s final Federal Reserve conference and what it signals about monetary policy going forward. He tackles the surreal optics of a central banker promising to remain on the decision-making committee after his term ends, questions the Fed’s inflation credibility, and connects the […]

Despite pundits’ claims to the contrary, war is not good for the economy. When warhawks fail to grasp this, they fall prey to the age-old broken window fallacy. The following article was originally published by the Mises Institute. The opinions expressed do not necessarily reflect those of Peter Schiff or SchiffGold. War is the ultimate […]

Many forms of regulation have an origin story rooted in a historical example of a business damaging everyone around for quick gain. These examples of negative externalities show something that can apparently only be fixed by regulation. If a business is allowed freedom and they used it to damage the common good, the government that […]