Calculation and Knowledge

How statism pollutes our language in ways we don't always recognize. This is Walter Block's third essay in a great series on this topic.  

Walter Block decries statists who distort the meaning of words, and also those who kowtow to their politically correct agenda.

A stock price is not an objective rendering of value, but merely an opinion about the present and future worth of a company--and opinions can be wrong. 

Those glitches serve a market function: consumers prefer advanced technology to perfect technology.

The census is intrusive by nature, but the Clinton administration's version is brazenly pro-welfare, outrageously invasive, and costly even for states that supposedly benefit from its results. 

All talk of disproportionate wealth gains belongs in the dustbin of history. 

The unexpected inversion has led to wild speculations about the cause and solution, but only the Austrian economists name the real culprit.

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)