Other Schools of Thought

Christopher Westley reports from this year’s National Association of Business Economists Convention.

Christopher Westley reports from this year's National Association of Business Economists Convention. He finds that the mainstream's intellectual blinders are firmly in place, and that the “fatal conceit” Friedrich Hayek wrote about in 1988 is alive and well in 2014.

How is socialism related to money? Money should be produced just like other goods through free markets. Central banks should not be controlling money, banking and credit.

 If, for good reason, we generally distrust the concentrated power wielded by coercive monopolies, we ought to avoid at all costs placing more power in the state, the ultimate embodiment of monopoly.

Politicians tell us that tax cuts aren't necessary for economic growth. But when a politically-powerful company offers to move to town and hire people, the politicians fall all over themselves to offer a tax cut. Ordinary business owners, meanwhile, get no such offers.

The trouble with sectarians, whether they be libertarians, Marxists, or world-governmentalists, is that they tend to rest conten

Frank S. Meyer is by far the most intelligent, as well as the most libertarian-inclined, of the National Review stable of editors and staff.

From Adam Smith's day to our own, economists have tended to treat the intertemporal trade-off as something quite different from other trade-offs that market participants face.

It is no wonder that the vast majority of Americans do not know whom, if anyone, they should believe regarding economic pronouncements.