We’re Living in a Chaos Economy. Here’s How to End It.

Source: Ludwig von Mises Institute
by Mark Thornton

“The Federal Reserve has been increasing the money supply at an explosive rate. The federal budget, deficits, and the trade deficit are record levels. Governments, both foreign and domestic, have locked down people, restricting production and consumption. How should this be viewed by an economist? There is clearly chaos in the economy, and hardly a day goes by when I don’t find unusual if not unprecedented situations in day-to-day economic life. However, many people and economists are either oblivious to the problems or in denial. Things are normal for them. Politicians are mostly in this camp. … Austrian economics provides an understanding of the causes of this chaos and the way to solve it.” (10/12/21)