Free Market

Argentina’s economic minister, Axel Kicillof, has become famous for his assertion that it is possible to centrally manage the economy now because we have spreadsheets.

Labor unions and the general public almost totally ignore the essential role played by falling prices in achieving rising real wages.

The war on drugs has no benefits, just costs and negative unintended consequences. These include drug-addict crime, drug-dealer violence, bribery and corruption, and the increase in drug potency to deadly levels.

Economics students, including undergraduates, are groups I am targeting with the book. The book is not an introductory economics text from an Austrian perspective, and assumes that the reader already knows some economics.

Forbes’s “stable and flexible” gold standard would facilitate and camouflage an inflationary expansion of the money supply that would, according to Austrians, distort capital markets and lead to asset bubbles. The motto of our current gold-price fixers seems to be: “We want sound money — and plenty of it.”

The capitalist entrepreneur acts with a specific goal in mind: to attain a monetary profit.

Few topics in recent years have aroused as much interest among libertarians as intellectual property. What place, if any, would IP — patents, copyrights, trademarks and the like — have in a libertarian society?

Entrepreneurship is the driving force of a market economy, and that entrepreneurs need property rights, the rule of law, sound money, and free and open competition to be successful.

These so-called sweatshops are part of the development process that leads to better conditions. Austrian economic theory teaches that people choose purposively to improve their situation.

People during the presidential campaigns spoke of a Ron Paul Revolution. But without a revolution in education, there can be no Revolution.