What does Austrian economics imply would be a rational political policy of the U.S. toward Russia? Austrian economics highlights among other things the importance to economic development of secure property rights. If the latter are improved, the economy tends to improve. Hence, if property rights are poor in a country, that country has an incentive to improve them in order to increase its wealth. The political system may block this incentive from happening, but economic forces will impel political changes, even if it takes revolution. Political roadblocks can eventually be overcome, and they do not need U.S. meddling. That will … Continue reading Russia’s Property Rights Will Improve