The economic analysis of repudiation applies to the debt of all levels of government and to all countries. The central question is not how big the government is or how much it owes, but rather whether the debt is funded by taxes.
The economic analysis of repudiation applies to the debt of all levels of government and to all countries. The central question is not how big the government is or how much it owes, but rather whether the debt is funded by taxes.
What would it mean for the economy if by one fell swoop not just the debt owed to the central bank, but all of it disappeared?
Opponents of natural rights often claim that natural rights aren't real because these rights have no clear boundaries. They claim we need a state to set these limits. Rothbard demonstrated that this claim is weak at best.
In my view the language of “homesteading” of persons (i.e., children) is best abandoned. Retaining it causes confusion, and nothing essential to the theory is lost by giving it up.
William Graham Sumner did not believe in "social Darwinism" as his critics think, but rather that to survive, people must organize themselves in a society. Sumner is right.
In her history of liberalism (both classical and otherwise) Helena Rosenblatt relies on a caricature of liberals as radically individualistic and concerned only with material gain. This is an unfortunate mistake.
Many say economics must focus on preserving resources for distant future generations. They say climate change is why. That's may seem convincing in the abstract, but we soon learn how hard it is to predict future needs, and to ignore present ones.
Many say economics must focus on preserving resources for distant future generations. They say climate change is why. That's may seem convincing in the abstract, but we soon learn how hard it is to predict future needs, and to ignore present ones.
Given that so much of the world is in the grip of false ideologies, what can we do? Mises says that the answer does not lie in international organizations or treaties. “It is futile to place confidence in treaties, conferences, and…bureaucratic outfits"
