Clarifying Scarcity: The Garden of Eden
Did scarcity begin with Adam and Eve in the Garden of Eden? Or were human beings and their surroundings already bound by time and space before they ate the forbidden fruit?
Philosophy and Methodology
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Another Reason Why Individual Freedom Is So Much Better than Central Planning
Progressives believe that restricting individual liberty permits better social outcomes. In truth, it is individual liberty that allows societies to function best.
Do Human Emotions Better Help Us Understand Economic Analysis?
Behavioral economics operates on the assumption that human emotions play an important role in determining economic choices. However, while all of us have emotions, we ultimately use reason to determine what we need to sustain our lives.
Another Reason Why Individual Freedom Is So Much Better than Central Planning
Progressives believe that restricting individual liberty permits better social outcomes. In truth, it is individual liberty that allows societies to function best.
How Carl Menger and the Austrians Helped to Steer Economic Theory in the Right Direction
When Adam Smith and the English classicals promoted division of labor as the most important ingredient in economic development, it took Carl Menger and his Austrian successors to point out that error and promote the proper economic theory of production.
If One Wishes to Discredit Capitalism, One Should at Least Understand How It Works
Scott R. Sehon tries to be intellectually honest in his critique of capitalism and his endorsement of socialism, but David Gordon writes that Sehon needs to better know the arguments favoring capitalism.
The Dangerous Consequences of the German Historical School
While the German HIstorical School might not have the intellectual influence it once did, its doctrines caused enough damage to alter the direction of world history. And not in a good way.
Studying Economic Data Is Not “Doing Economics”
Economists are fond of claiming that employing data and statistical analysis is actually “doing economics.” No, they are “doing data” and nothing more. Real economics employs real theories that explain economic phenomena.
How Carl Menger and the Austrians Helped to Steer Economic Theory in the Right Direction
When Adam Smith and the English classicals promoted division of labor as the most important ingredient in economic development, it took Carl Menger and his Austrian successors to point out that error and promote the proper economic theory of production.
The War on Producers and Entrepreneurs Is Based on False Notions of Profits
Since Adam Smith, economic thinkers have failed to understand that profits in a market economy are not extractions of wealth from laborers. In truth, profits lead to higher wages and higher living standards for those workers.
