Peter's Blog

Free market economists have demonstrated why socialism fails: without true market prices, economic calculation becomes impossible. Some, however, fail to realize that this limitation also applies to other institutions, like nonprofits, that typically don’t face market prices either. The following article was originally published by the Mises Institute. The opinions expressed do not necessarily reflect […]

Socialism seems to be on the rise, with jurisdictions like New York City electing avowed socialists to “fix the economy.” Whether it’s state control of the money supply or intervention in capital and labor markets, sound economics demonstrates that central planning never works. The following article was originally published by the Mises Institute. The opinions […]

While in the last article, the extremes of two completely different ideas regarding human nature were considered. This article will examine the pros and cons of both systems of government when dealing with the reality, which is a wide continuum of various dispositions with regards to selfishness. Some people are extremely benevolent to the point […]

People hold a wide range of beliefs concerning human nature, and these different beliefs impact how they view the role of government and the proper prerequisites for society. These beliefs are often left as an unspoken assumption that leads groups to differ in their political beliefs. This article will be an examination of how a […]

With the election of Zohran Mamdani as New York’s Mayor, last week’s election may have marked the start of a new socialist political era. As unfortunate as his success is for New York, his supporters will eventually face the same disappointment that all socialists do once they collide head-on with economic reality. The following article […]

Interventionists look for any excuse or pretext to regulate private enterprise. One recent justification for additional regulation is so-called “planned obsolescence,” but as with other reasons for state action, this justification falls apart under close scrutiny. The following article was originally published by the Mises Institute. The opinions expressed do not necessarily reflect those of […]

With the Trump administration taking a stake in private companies like Intel, many are hailing the “treat the state like a business” approach to governing. But, just like any intervention, public ownership of the means of production is bound to create perverse incentives and lead to wasteful economic activity. The following article was originally published […]

On Sunday’s podcast, Peter recaps the economic excitement from the tail of last week and the weekend. He starts by analyzing the market’s downturn from Friday and then proceeds to cover more government waste, global interest rates, and the Fed’s policy path moving forward into 2025. He concludes by discussing the legacy of his late […]

While local elections are often relegated to a sideshow when it comes to importance in the national economy, the recent fires in L.A. have destroyed this paradigm. The incompetence of the leadership of L.A.s mayor shows how local elections can have devastating local and national impacts.

Did you know Thanksgiving almost didn’t happen thanks to the Pilgrims’ experiment with socialism? It didn’t work. Fortunately, they figured out some economic truths and the rest is history. In this episode of the Friday Gold Wrap, host Mike Maharrey tells the Thanksgiving story you almost certainly didn’t hear in school. He also explains why […]