The meltdown of Lehman Brothers in September 2008 didn't begin the crisis; it was a model of how all troubled firms should have been handled. Had this policy been followed from the beginning, I have little doubt that the downturn would already be over and we would not have added to the debt problem.
In the 73 years since the passage of the FLSA, the federal minimum wage has been increased 28 times and decreased only once (in 1963).
In an unhampered free-market system, the Ricardo effect is benign and progressive. It is just an interesting observation.
If such a second American Revolution should ever come to pass, Thomas Woods could even match his namesake Thomas Paine.
After decades of strict laws regulating when stores can open and close in Germany, the laws are progressively liberalizing.
The cost theory could not explain what actually forms spot prices on any given day. The Austrians had a better theory. This was an unambiguous advance in the science of economics, analogous to the superiority of Einsteinian relativity over Newtonian mechanics.
Throughout Pop Internationalism, Paul Krugman makes a great case for how free trade and the global economy raise the living standards for everyone.
The Roosevelt administration proposed and Congress enacted an unparalleled outpouring of laws that significantly attenuated private-property rights.
