Calculation and Knowledge

A fairly well-established subclass of neoclassical economics fails to get to the root of the problem, argues Chris Westley. 

Man does not operate based on a "utility function," but by making discrete, unpredictable decisions when faced with a choice, writes Gene Callahan.

Walter Block decries the use and misuse of these terms in modern political vocabularly. 

Americans have more housing choices than ever before, thanks to the automobile and modern communications. The regulators are fit to be tied, says William Anderson. 

According to the internet-based "futures market" run by the University of Iowa, almost anything can happen in this year's elections.

Those protesting he IMF and World Bank think they are attacking free markets. Yet these bureaucracies were hatched by Keynesian central planners, and should be opposed on free-market grounds. 

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.