Capital and Interest Theory

Is there any merit to the popular definition of recession? Why must it be two quarters of negative growth and not one, or perhaps three? Frank Shostak gives another view and assesses the prospects for recovery.

The recent World Trade Center disaster may provide some economic opportunities for small, select groups, but the vast majority of people—including most New Yorkers—will be left worse off than before.

Why would some folks hate globalization as it is properly understood and conceived? Tibor Machan explains.  

Forbes magazine's Peter Brimelow and Edwin Rubenstein ask, "Does Hayek’s Law condemn the U.S. economy to a Japanese-like L-shaped recession?" John Cochran responds.

The Bush administration's new duty on Canadian softwood lumber imports could dynamite the nation's housing.

It is the inevitable consequence of Fed interest-rate manipulations to disturb, disrupt, and disarrange economic activity, writes Hans Sennholz.

Contrary to popular belief, interest rates have nothing to do with money. The attempt to manipulate interest via the money supply can only cause distortions. 

The Fed, the media, and most economists agree: Spending is what drives an economy forward. Frank Shostak shows why this view is wholly incorrect.

Conservation is not an exercise in saving us from ourselves. It is an attempt by the political classes to criminalize choices that we would make in a free market.

Shelves of books have been written on Third-World poverty and its supposed cure. At last, here is one, by Hernando de Soto, that makes sense and is well worth reading.