Harwood Economic Review

AIER’s dedication to classical liberalism drives us to address both long standing and unforeseen challenges to American values. This issue tackles emergent threats to freedom: wokism, growing Fed mandates, and ESG among others. As threats to liberty expand, our commitment to safeguarding fundamental American ideals does as well.

The intellectual progeny of the New Deal continue to surface in American economic and political discourse: the Fair Deal, the New Frontier, the Great Society, the Freedom Agenda, Build Back Better, and others. But just as upon our 1933 inception we fiercely opposed their progenitor, ninety years later AIER remains every bit in the fight.

Bad and disproven economic ideas have an uncanny longevity. While knowledge tends to be cumulative in most intellectual fields, the accumulation of knowledge in economics and finance seems to follow a more cyclical pattern. In this edition of the Harwood Economic Review we examine some recent examples of those, and discuss why ideas akin to…

As inflation rises, the range of future outcomes broadens. Consumers rebalance budgets as price changes occur. Producers must now estimate not only the price their goods and services will fetch in the future, but future costs of production. Unsound money heightens uncertainty. We are at the cusp of change: but to, or toward, what?

One year ago, in the Summer 2021 issue of the Harwood Economic Review, we asked: “Is Inflation Back?” The answer is now clear. Inflation is back – and at 40 year highs. After years of easy money, it is time to face the music.

“This year, Ludwig von Mises’ Socialism turns 100 years old. Pandemic policies went beyond ordinary collectivism in utterly suppressing rather than seizing industries. We now face costly delays, shortages, and rising prices; this is what Mises’ ‘groping in the dark’ looks like.” ~ Peter C. Earle

The 1970s brought low levels of economic growth. It is appropriate to look back upon those days today. In this issue of the Harwood Economic Review we are again looking back to the ‘70s, as the worrisome prospects of increasing costs of living amid slowing economic growth are emerging. And with those, the ugliest word…

Gold will return to monetary preeminence not because it can or should, but because it must. Nixon’s temporary suspension will be exactly that; not because he said so, but rather because at some point there will be no other road forward.