Menger’s Distinct Approach to Economic Thinking
MARKETS
Class Harmony, Not Class War
One of the innumerable destructive consequences of an almost 250-year-old error in economic theory made by Adam Smith.
The False Ideal of Equity
The false standard of equity leads to bad outcomes for everyone. The standard should not be equity but justice.
Should Business Fight Climate Change and Inequality?
The Hazards of Embracing Environmental, Social and Governance (ESG) Goals
Socialism Never Works
Socialist experiments failed in Sweden, Israel, India, Great Britain, Afghanistan, Syria, Algeria, Cambodia, Somalia, etc. There are no socialist success stories.
Equity Performance Amid One-Party Rule in America
If history (especially more recent history) is a guide, U.S. equity gains over the next two years of full Democratic control will be inferior, a result that is more probable given that the party is currently more anti-business, anti-profit, and anti-capitalist than at any other time since 1970.
“Sweatshops” are Good for the Planet—and People
Producing and consuming fast fashion and other sweatshop products is a win-win scenario for human flourishing: consumers get inexpensive products, workers and their employers prosper, working conditions improve and pollution diminishes, the planet gets greener, and the brands profit.
President Biden’s Push To Force Workers To Join Unions
President Biden’s “closed shop” labor union agenda would rob all those working for a living the liberty and latitude to do so freely and of their own choosing.
“Bubbles” and the Grand Selection Mechanism of Financial Markets
Whenever accusations of “bubbles” are thrown about, I think of these extraordinary stories and the grand selection mechanism that is financial markets.
How Does One Apply Rational Egoism in a Mixed Economy, Welfare State?
While the welfare state cannot be transformed into a free-market system overnight, businesspeople can help by speaking up (in forums open to them) when restrictions on freedom of business are being proposed by government and other groups.
Currency Competition May Save the Economy or Even Much More
It should never be illegal to do honest business in America, even if that means a transaction isn’t denominated in U.S. dollars.
Who is Carl Menger?
There are few works in the history of economics that may be truly considered “revolutionary” and “path-breaking,” in its starting premises, its logic, and its implications. But one that is in this category is Carl Menger’s Grundsätze der Volkswirtschaftsliche, his Principles of Economics in its English translation, which marks this year the 150th anniversary of its publication in 1871.
Art Gallery Demonstrates The Virtue of Independence
If there is a lesson to be learned from the economic lockdowns governments around the world started imposing on businesses in an attempt to contain the coronavirus pandemic, it is the importance of independence.
The Economics, Politics and Morality of Fiat Money: An Interview with Pro-Capitalist Economist Raymond Niles
Professor Niles discusses the economic, political and moral aspects of the U.S. dollar, inflation, gold standard, fiat, money and legal tender laws.
Confusing Free Market Capitalism with the Corrupt Interventionist State
It is difficult to see the difference between an actual free market and the interventionist system under which we live because so many across the political spectrum refer to ours as a “capitalist” society.
Clarity About Business Ethics
Altruism is not the only moral code; there is an alternative that facilitates long-term profit maximization.
“Socially Responsible” Funds: An Investment Con?
I save money by investing in passive investments funds and exchange-traded funds that don’t charge fat fees. They grow our economy without misleading people about “sustainability.”
Costs Must Be Weighed Against Benefits: The Economics of Dealing with Pandemics
What about the benefits and costs of dealing with the COVID-19 pandemic?
Jacob Goldstein’s “Planet Money”: Snarky, Inaccurate, and Oddly Incomplete
Every step of the way, Goldstein’s account is mistaken.
Let a Billion Preferences Bloom
There isn’t much room for diversity and dissent, however, when everything is decided politically. Mass customization and diversity are commercial society’s virtues. Mass regimentation and uniformity are political society’s vices. The stark contrast is clear in the proximity between Halloween and Election Day.
Ayn Rand, Monopolies, and The “Fallacy of The Package Deal”
We can keep the term “monopoly,” but it should be reserved for describing those government-created and sanctioned dinosaurs like the US Postal Service.
Google is Not a Coercive Monopoly
“Monopoly” means either “the only firm in an industry” or “a firm with explicit, government-granted privileges that prevent other people from competing with it.” Google doesn’t fit the bill.
The Myth of the Failure of Capitalism
The nearly universal opinion expressed these days is that the economic crisis of recent years marks the end of capitalism. Capitalism allegedly has failed, has proven itself incapable of solving economic problems, and so mankind has no alternative, if it is to survive, than to make the transition to a planned economy, to socialism.
Why The Government Should Leave Amazon, Google, Facebook, and Apple Alone
Antitrust legislation is an example of the government’s improper use of political power.
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