Behavioral economics claims it has shown that people behave irrationally — often make mistakes, and have problems with self-control. But is this really irrational behavior?
Ball’s Bluff evolves from a “slight demonstration” into a small-scale battle, and claims the life of one of President Lincoln’s closest personal friends.
The historic contribution of Mises was represented not so much by the magisterial works that he produced in 1912, or 1922, in 1933, or 1940 — as by his courageous, lonely vigil during the arid decades of the 1940s, 50s and 60s.
This year’s Nobel is particularly illustrative of what gets rewarded in economics, and how this does not exactly conform with more intuitive notions of scientific progress.
Even if we accept the mainstream narrative on the effects of climate change, the costs of implementing a global regulatory "mitigation" program are far higher than advocates admit.
