Essays & News

  The war in Iran is affecting India beyond the global oil shock and trade disruptions. New Delhi has long viewed the Middle East as part of its extended neighborhood and maintains ties with all key actors in the conflict – Iran, the United States, Israel and the Arab Gulf states. As in the Cold […]

Milton Friedman is often quoted as having said something to the effect that inflation is taxation without legislation on multiple occasions during his career (cf. for example Friedman and Friedman 1980, Ch. 9). In other words, he pointed out that inflation is a tax without democratic legitimacy. Citizens do not vote on it. Other economists […]

The following series of articles presents the Austrian School of economics, 1000 words at a time. Nine economists. Twenty-seven articles. One coherent tradition that the establishment has been trying to ignore for 150 years. They were right. Article 5/27   Vienna. March 1938. The Gestapo enter Ludwig von Mises’s apartment the day German forces march into […]

  Zur 127. Wiederkehr seines Geburtstages am 8. Mai   “Before we explain why people commit mistakes, we must first explain why they should ever be right.” F.A. von Hayek I Weit mehr als die anderen sozialwissenschaftlichen Disziplinen scheint insbesondere die Nationalökonomie der periodischen Wiederholung längst widerlegter Thesen und den modischen Begriffen des jeweils herrschenden […]

  Abbas Araghchi, Iran’s foreign minister, met with President Vladimir Putin and other Russian leaders in St. Petersburg recently. Iran is a strategically important neighbor for Russia. Moscow’s main interest in Iran is access to the Indian Ocean. A railway line extends from Russia through Azerbaijan to Iran’s coastline ports. There is additional mutual interest in the […]