Say’s Law and Saysian economics go hand in hand with a political-economic-philosophical appreciation for capitalism – for rationality, the pursuit of self-interest, entrepreneurialism, profit-making, private property rights, the rule of law, and constitutionalism.
Thomas Sowell discusses poverty around the world and in the United States. Poverty in America, he says, compared to the rest of the world, is not severe. Many poor people in poverty in the United States have one or two cars,...
Economics is fun and simple. It’s made complicated by some economics professors. Let’s apply some simple tools of economics to reveal outright myths, lies and tricks.
Sustainable finance as imposed through government regulation harms human flourishing by violating the investors’ freedom to choose.
Blockbuster’s demise began when it charged a man named Reed Hastings $40 in late fees. That annoyed him so much, he started a subscription-based, mail-order movie rental company he called Netflix.
“I don’t think that billionaires should exist,” Sanders explained. The crusade’s rallying cry: “Abolish billionaires.” To that end, Warren and Sanders have each proposed special taxes on the ultra-rich.
Joseph A. Schumpeter is identified with two related ideas, the notion of the innovative entrepreneur and the imagery of the competitive market as a process of creative destruction.
Bitcoin’s returns over the last decade have dominated every other asset we can compare it with, but that still doesn’t tell us what we need to know about the future viability of this extraordinary development in human monetary affairs.
An introduction to political economy focusing on money, banking and funding of government.
Perhaps the money of the future isn’t some sophisticated crypto token, but a private promise to consume a widely used service.
The fact is, there is far more in the world that successfully manages and “regulates” itself without the controlling hand of the government than many of us pause to reflect on or understand.
The human condition has been and can continue to be radically and amazingly improved, if only personal freedom and free markets are allowed to work their wonders on our global community of free trade and networks of voluntary association.
By helping to cut the dollar’s tether to gold, Volcker helped Washington’s politicians engage in perpetual fiscal profligacy.
If you approach Austrians economics from a Marxian-style dialectic, as Janek Wasserman does, then you will miss the entire point of the school of thought and its contribution to the science of economics.
If millennials and others want to wage war against government favors and crony capitalism, I’m with them 100%. But I’m all too afraid that anti-capitalists just want their share of the government loot.
The ethics of private enterprise and the morality of the market require both a preaching and a practicing of a respect for others’ individual rights to their property and to the rule of voluntary agreement in all transactions, even when market outcomes are not always favorable to oneself.
The best aspect is that it keeps intact 90 percent of the old NAFTA; the worst is that what is mostly new and unique in USMCA is protectionist and economically destructive.
Wealthy capitalist Andrew Carnegie (1835-1919) was an indefatigable steel tycoon—and he was also intellectual.
I know that it’s good to have alternatives to government-created currencies. The dollar’s value is only backed by politicians’ promises. I sure won’t trust those.
Your building your own deck would be worthwhile only if your cost of doing so is less than the cost of having someone else, such as Jones, build it for you.
To consume, men must first produce.
The Great Depression was not one, but four consecutive depressions that Professor Hans Sennholz has labeled as four “phases”: the business cycle; the disintegration of the world economy; the New Deal; and the Wagner Act.
By removing the market’s solution to collapsing banks, this unraveling forced electorate-sensitive governments to take up the residual risk and backstop the financial system that Scottish banks themselves so effectively regulated in the past.
The Fed has been successful in fooling the markets regarding the temporary nature of zero-percent interest rates, the efficacy of QE, and its ability to normalize rates and shrink its balance sheet.
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