Mainstream economics is deterministic, holding that economic actors continue to move in one directions, not responding to changes in economic circumstances or incentives. The Austrians understand economics is about people engaged in purposeful action.
Even though a significant number of libertarians supported Trump for president, he clearly has shown no respect for libertarian thinking, especially with his anti-growth trade policies and support for bloated federal spending.
Economic sanctions, as a general principle, have a history of failure in the 20th and 21st centuries, which penalize everyday citizens in the sanctioned country.
With the Iran bombing, the US Government is once again embarking on yet another act of war in support of the US empire. The eternal quest to expand the empire will not end well for Americans. Opposing the government‘s wars is a worthy endeavor.
Iran fired missiles at a U.S. military base in Qatar Monday in retaliation for American strikes on three nuclear enrichment sites, marking another major escalation in the growing Middle East conflict. The Qatari government said U.S. forces were able to intercept those missiles. And President Donald Trump downplayed the strikes on Truth Social, writing Iran had alerted the government ahead of time and now "gotten it all out of their 'system.'" The situation is changing quickly, and each development is being chronicled by the media, from the traditional major news networks to MAGA influencers. Brian Stelter, chief media analyst for CNN, breaks down how the media is covering what could become another U.S. conflict in the Middle East.
And in headlines: The Supreme Court gave the Trump administration the green light to quickly deport migrants wherever it wants, New York City starts the process of voting for its next mayor, and the U.S. government moves to keep a wrongfully deported man in detention ahead of his pending trial.
The world has held a close eye on the Strait of Hormuz lately with Israeli and U.S. strikes on Iran. Nearly a quarter of the world's seaborne oil passes through the narrow waterway, and many are worried Iran could shut the strait down. Today on the show, we explore what it would mean for Iran to close off the strait, and what insurance could tell us about tensions in the Middle East.
Related episodes: Oil prices and the Israel-Hamas war (Apple / Spotify) How the 'shadow fleet' helps Russia skirt sanctions (Apple / Spotify)
For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.
A jury recently found Greenpeace liable for more than $660 million in damages to the company behind the Dakota Access pipeline for its role in the Standing Rock protests.
But the ramifications extend far beyond Greenpeace. As protests against various Trump administration policies heat up across the country, what does this lawsuit say about how opponents can weaponize the courts to criminalize protesters?
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Podcast production by Ethan Oberman, Elena Schwartz, Paige Osburn, Anna Phillips, Madeline Ducharme and Rob Gunther.
As US debt soars and foreign central banks stockpile gold, members of Congress introduce a bill to require a comprehensive audit of America’s gold reserves.
Our socialist transit systems are an ongoing failure made worse by even more government intervention. We should not be surprised, then, when political leaders insist that the real problem is the lack of a political will to spend even more money on government enterprises.