Philosophy and Methodology

If there was anything that characterized the Old Left it was adulation of labor unions and of the process by which the government has created, main

Fifty years ago, on Easter Monday, April 25, 1916, began the glorious Irish Revolution, a revolution that was to end by sweeping away a monstrous r

The lack of revolutions, even in highly-taxed societies points to the possibility that many are willing to tolerate rather high taxation rates, wri

All human institutions — governments, markets, money, etc. — suffer from the same problem: the imperfections so bitterly denounced by Schmookler. Greed, ignorance, myopia, irrationality are endemic in them all. 

Supporters of Kaldor-Hicks believe it useful to have a quantitative measure to assess the efficiency of different situations.  Although it may appear convenient to be able to judge policies

oth the establishment of property rights and their violation spring from actions: acts of appropriation and expropriation. However, in addition to a physical appearance, actions also have an internal, subjective aspect. 

Austrians have frequently criticized neoclassical economics for the unrealistic character of its assumptions. Neoclassical models are typically “idealized”;

What is certain is that mathematics cannot possibly be a valid means (to advances in economic understanding) unless and until it is used properly. That means that dimensions must be used consistently and correctly.

Although most economists model individual behavior using comparative statics, that approach ignores several important aspects of human action. How do we account for people having opposite responses to the same price change?

We have tried to take Caplan to task for his many errors of omission and commission. Nevertheless, we think his was a very worthwhile article. Why? First, its quality.