Philosophy and Methodology

Say's Law essentially tells us that we produce in order to consume. Once we start thinking we can consume before we produce, we get into trouble.

Political decentralization is “the essence of the spirit of Europe.” It is what made room for the merchant to trade and for the worker to innovate.

Morganstern is best known as the co-developer of modern game theory with John von Neumann in their 1944 book, The Theory of Games and Economic Behavior.

Contrary to the claim that they want for all a "self-sufficient" life in isolation, libertarians assume there is great value in voluntary cooperation.