Neoclassical economists often make matters more complicated than necessary; but, fortunately, the best of them manage to stumble close to the truth. Jagdish Bhagwati is by no means a committed supporter of the free market.
It is entirely within coffee-bean buyers' rights to pay any price, including an inflated price, writes Joesph Potts.
Most people assume that gifts are wonderful to receive. But this view has recently come under attack, reports Robert Murphy finds riddled with fallacy.
Bill Buckley and Irving Kristol revealed why they are not drawn to free-market logic: they find it dull. But economics is no more dull than life itself, writes Lew Rockwell.
It was reported last week that the M3 money supply has increased at a breathtaking 20% annual rate in the last 4 weeks, going up $155 billion. Coincidently (or not), the Bureau of Land Management (BLM) held another of its semi-annual land auctions in Las Vegas.
If we were to restrict American companies to only hiring American programmers, writes Clifford Thies, the obvious response of the rest of the world would be to forbid American companies from selling their software and related products and services to their consumers.
The common wisdom used to be that a person shouldn't go into debt. This view was based upon centuries of experience. Bad things can happen, thus money should be saved just in case, not borrowed. But, now people follow the government's lead, the government will never get out of debt and neither will the people.
With gas prices soaring, an old fallacy has been renewed, writes William Anderson.
It is time for the energy alarmists to have their moment in the sun, writes Mark Brandly.
Due to the productivity norm doctrine, writes Phillip Bagus, labor unions disturb the process of capital accumulation.
