Economics for Beginners is a series of videos designed to show that economics is not a complicated subject fit only for people with college degrees. But that economics affects everyone on a daily basis in both big and little ways and is a normal aspect of our day-to-day life. Usi … | Continue reading
One of the central arguments in favor of the government's monopoly on police powers is that government police are essential in "keeping us safe." Without this "thin blue line" between chaos and order, we are told, society will descend into chaos. | Continue reading
The influence of the economics of Michal Kalecki on Modern Monetary Theory (MMT) is hard to ignore. With its roots in the Neo-Marxist macroeconomic theory of Michal Kalecki, MMT carries with it the heritage of the labor theory of value and the Marxist state and class analysis. | Continue reading
After the collapse of the housing market in 2008, professional historians gave birth to a new sub-field of history usually referred to as “the new history of capitalism.” Economic history is hardly novel, but the new history of capitalism takes the approach that capitalism is the … | Continue reading
Hedge fund titan Ray Dalio is just the latest billionaire to call for government to save us from guys like him. | Continue reading
Modern Monetary Theory (MMT) is a hip economic/financial paradigm apparently sweeping a world unsatisfied with mainstream economics. | Continue reading
Why does support for socialism persist? The short answer may be simple human nature, our natural tendency toward dissatisfaction with the present and unease about the future. Even in the midst of almost unimaginable material comforts made possible only by markets and entrepreneur … | Continue reading
[Chapter 3 of Classical Liberalism and the Austrian School. This chapter is adapted from a paper delivered at the general meeting of the Mont Pèlerin Society, in Cannes, September, 1994.] | Continue reading
The praxeological method was the basic method of the earlier Austrian School and also of a considerable segment of the older classical school. | Continue reading
The global controversy over video game loot boxes is now over a year old, and shows no signs of abating. | Continue reading
The so-called Swedish model has been getting great press lately. But Stefan Karlsson says Sweden's economic boom is wholly artificial. It will have to come to an end. | Continue reading
Bernie Sanders’s entry into the presidential race has sparked a nationwide conversation about socialism and its potential to remedy the real and perceived pathologies suffered by Americans. | Continue reading
The Nazis did not invent polylogism. They only developed their own brand of it. | Continue reading
It’s become quite fashionable for members of the so-called Intellectual Dark Web (IDW) like Dave Rubin, Ben Shapiro, and Jordan Peterson to decry equality of outcome as a thinly veiled guise for tyranny and oppression. | Continue reading
Democratic socialists in America are trying to introduce their ideology as something new, when in fact, they are only retreading old-fashioned ideas that history has already disproven. They are ideas that have led to the economic devastation of every country in which they have be … | Continue reading
On a recent jaunt to the end of the world, I found myself in one of those situations awkward for an Austrian economist, which is that of defending the Chicago school and Milton Friedman. | Continue reading
The masterpiece first appeared in German in 1940 and then disappeared, only to reappear in English in 1949. It was a sensation, the largest and most scientific defense of human freedom ever published. | Continue reading
After decades of warfare, the federal drug war has become a predictable cycle. Drug dealer, drug gang, or drug user busted. DEA agents celebrate the bust. Newspaper reporters laud the DEA. Defendants prosecuted, convicted, and sent to jail. And then? | Continue reading
From crime rates to life expectancy to | Continue reading
The Free Market 5, no. 7 (July 1987) During patriotic holidays, the news media applaud the Founding Fathers. But rarely does anyone mention some important facts about them: that they were smugglers, tax evaders, and traitors. | Continue reading