Calculation and Knowledge

You may never have heard of them, but they battled against the main cause of state expansion in the 20th century. 

This year's political campaigns highlight at least one positive trend: the "best and brightest," who nearly wrecked us, are no longer wasting their talents serving the state. 

It's traduced in normal times and blamed for every economic crisis, but speculation has an important role to play in the market economy. (Article by Christopher Mayer)  

One question about socialists has for many years puzzled me: how can they exist? The Soviet Experiment, the Chinese Great Leap Forward, etc. are now "one with Nineveh and Tyre";

Without an accurate accounting picture, federal agencies do not know the costs of their programs and do not have the financial information needed to make informed day-to-day decisions. The government's failure to maintain common accounting standards creates the possibility that billions of dollars have been stolen or wasted.

The field in economics called "Industrial Organization" is the very foundation of antitrust activity by government. And if you thought antitrust action was little more than one business using government to smash its competitors, The Economist is here to correct you.

Ed Shanahan on the significance of the Austrian tradition. 

Is antitrust policy science or the same old racket?

The meaning of the newest Nobel Prize in economics.

Financial instability and anti-capitalist fallacies about booms and busts.