"History cannot teach us any general rule, principle, or law. There is no means to abstract from a historical experience a posteriori any theories or theorems concerning human conduct and policies."
Freedom is not the ability to do what you want. This definition leads to all kinds of mischief, as freedom is really the absence of the threat of force.
A big reason that socialist ideology has staying power is the tactic of blaming the many failures and disasters of socialist regimes on the alleged fact the regimes "aren't real socialism."
If time preference is genetically built into humans, are they double discounting future goods? Does this mean people should stop trying to weigh time in their calculations?
The possibility that someone might pose a threat to another at a future time is not sufficient reason to revoke a person's property rights.
Although it's true that Austrians agree with Chicago economists on many policy issues, their approach to economic science is very different.
Although it's true that Austrians agree with Chicago economists on many policy issues, their approach to economic science is very different.
The weird thing about dialectical materialism is that Marx seems to have cobbled it together from two philosophies that contradicted each other.
The weird thing about dialectical materialism is that Marx seems to have cobbled it together from two philosophies that contradicted each other.
In theory, it is possible to adjust inflation measures to account for the many constant changes in prices resulting from changing demand, quality, and innovations. But it's essentially impossible to execute these adjustments accurately.
