David Gordon reviews Shawn Ritenour's The Economics of Prosperity. The book shows how economic growth stems from entrepreneurship, the division of labor, and investments in capital and technology. These factors, Ritenour argues, are the key to prosperity in underdeveloped countries.
Keynesian economists claim government budget surpluses are national savings, but real savings drive capital development. A surplus just means more revenue to the government, not the private economy.
A yacht—like any good exchanged on the free market—represents countless value-maximizing exchanges and represents an industry that employs thousands of people to provide goods and services to others.
A yacht—like any good exchanged on the free market—represents countless value-maximizing exchanges and represents an industry that employs thousands of people to provide goods and services to others.
Trump economic adviser Peter Navarro has condemned multi-billion-dollar investments by BMW in South Carolina as “bad for our economics.” The comments reflect a greater ignorance of capital goods by so-called economic experts.
What do COVID lockdowns, currency collapses, and hyperinflation all have in common? According to Steve Hanke, they all reveal how central planners manipulate fear, money, and power to control society.
This episode explores the economic implications of deflation, debunking the mainstream fear that falling prices cripple economic growth.
Long-term interest rates are on the rise and there is no shortage of explanations from the usual suspects. One thing the pundits miss, however, is the role of time preference in determining interest. The Austrians do not make that error.
Böhm-Bawerk shows us that the study of human action and the economy in general goes beyond the simple paradigm of the financial and monetary world. Economics is built into all human experience.
