Prices

Whenever there is an economic problem, politicians in knee-jerk response blame private monopolies. The problem isn’t monopolies; the problem is government.

The notion that AI can take over an economy is fantasy. A market economy is not made up of competing algorithms but rather sets of prices that lead to discovery.

Some economists are claiming that applying AI in energy markets helps to solve the Hayekian knowledge problem. They fail to take into consideration that many of the “cheaper” energy choices are heavily subsidized, thus hiding their real costs.

John Williamson, who passed away five years ago, is known for creating what was called the “Washington Consensus,” which was an attempt to bring a liberal economic order to poor countries looking to transition from socialism to capitalism.

John Williamson, who passed away five years ago, is known for creating what was called the “Washington Consensus,” which was an attempt to bring a liberal economic order to poor countries looking to transition from socialism to capitalism.

Can silver be called a Giffen Good? Probably not, although that fact doesn’t discourage some from looking for the equivalent of a unicorn in economic thinking.

The ongoing destruction of the world’s largest natural-gas reservoir at South Pars and Qatar has produced exactly what Austrian economics predicts: sudden, irreplaceable capital destruction followed by a violent supply shock.

Drawing on Man, Economy, and State, Dr. Jonathan Newman walks through Rothbard's theory of price formation and competition, showing that prices reflect subjective preferences, not seller greed, and that the only consumer-harming monopolies are those created by the state.

A century after Ludwig von Mises exposed the fundamental weakness in the socialist economy, Jesús Huerta de Soto demonstrates why Mises was right and his detractors were wrong. In Friday Philosophy, Dr. David Gordon explains why Huerta de Soto is right.

President Trump announced the tariffs aiming at two goals: protecting American producers and the relocation of foreign companies to the US. People have been “protected” by being disallowed peaceful, mutually-beneficial trades with others.