Other Schools of Thought

The Nazi concentration camps were modified versions of Soviet originals.  It's true the Soviet Union is not history's only killer state, but it is the original model on which others are based.

The year 1898 was a landmark in American history. It was the year America went to war with Spain—our first engagement with a foreign enemy in the dawning age of modern warfare. Aside from a few scant periods of retrenchment, we have been embroiled in foreign politics ever since.

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There is productive consumption and there is non-productive consumption. In the Keynesian mind, it's not necessary to produce anything, so long as people spend and consume endlessly, even to the point of destroying real wealth.

Mathematics enjoys the prestige of being truly “scientific,” but it is difficult to mathematize the messy and fuzzy uncertainties and inevitable errors of real world entrepreneurship and human actions.

Randall Holcombe's has written an impressive new book on political capitalism (or "crony capitalism") and contributes a discussion on political and economic elites.

The demand for goods is not constrained by the amount of money, but by the production of goods and services available to trade for money.

Central planners like Cass Sunstein think our alleged "irrationality" means we need the government to intervene in our daily lives.

Keynes and Hazlitt: their lives and loyalties are a study in contrast — and mostly of choices born of internal conviction, in Hazlitt's case, or lack thereof, in Keynes's case.

As dismissive as many of us would like to be toward Marx’s thoroughly debunked labor theory of value, it still holds currency among today’s budding socialists.