Politicians and the media always express shock when they hear about the latest fraudulent schemes involving the welfare system. They shouldn't be surprised, as nothing incentivizes fraud like the welfare state.
In this week’s Friday Philosophy, Dr. David Gordon examines the demands of philosopher Peter Unger, namely, that we be forced to give up our wealth to fund a world welfare state. Suffice it to say that Dr. Gordon is not impressed with Unger’s arguments.
Ironically, an acatallactic pseudo-theory of money that emerged from a school of thought that rejected theory in favor of an empirico-realistic, historical theory of money now finds it intellectually acceptable, not only to reject catallactic economic theory, but also empirical history.
Austrian economists have long criticized using mathematics to undergird economic analysis. It is time to apply that same criticism to using math to undergird analysis of financial markets.
By hiring a communist as his main housing adviser, New York City Mayor Zohran Mamdani is fully committed to driving out private ownership of rental properties and handing over apartments to the city and politically-connected organizations. It will only make housing problems worse.
The 1929 October stock market crash is one of the most important financial events in US history. Andrew Ross Sorkin’s book gives a close look at the events that shook the nation.
Trump is clearly focused on building a legacy in his second term with his domestic vanity projects and dramatic foreign interventions. But his actual legacy is shaping up to be defined by his lack of progress on affordability.
While unity sounds like a nice thing to have, when it comes to politics and nation-states, experience repeatedly shows that unity is the tool of those who build state power at the expense of freedom.
When it comes to fiscal reform, the Right—in Italy and abroad—should remember Jean-Baptiste Say: “The best scheme of finance is, to spend as little as possible; and the best tax is always the lightest.”
The Bill of Rights transformed the Constitution from one of supreme and total national power to a partially mixed polity where the liberal anti-nationalists at least had a fighting chance.
