Frédéric Bastiat would have turned 214 today. Although primarily remembered for The Law, Bastiat's book Economic Sophisms, filled with Bastiat's unique wit, and his ability to destroy bad economic theories, is as timely as ever.
Sardinia has a long history of agitating for secession from Italy. Now some Sardinians want to secede form Italy in order to become a new region of Switzerland. Ludwig von Mises defended this "secede-and-join" tactic and called it "self-determination."
Advocates for minimum wage mandates say they won't cause unemployment if done a little at a time. But if that's the case, why isn't Baltimore, with its myriad of wage laws, an engine of job growth?
The euro is an inflationary fiat currency, but it’s apparently not inflationary enough for many profligate European governments that want their own local currencies so they can inflate even more, and use easy money to temporarily cover up many economic sins.
Tom Woods’s book The Church and the Market revolutionized the economics debate among Catholics, and it explained how religion cannot replace economic science any more than it can replace physics. Understanding reality, and how to seek religious ends within it, depends on good science.
Business schools now often tell students that shareholders are socially irresponsible by seeking only profit and ignoring the “stakeholders in the community.” But in practice, owners must be respectful of many outside groups (such as employees and vendors), to be profitable.
In this re-imagining of the Gilbert and Sullivan tune "I Am the Very Model of a Modern Major-General," Julian Adorney explores the American presidency and the discouraging lack of variety among successful candidates.
Pope Francis's two major writings as pope are marked by a relentless pessimism and a world view in which human institutions such as markets are constantly making life worse and worse. This view, however, is not supported by the facts.
Charity serves an important and indispensable function in society: not everyone can engage in enough productive work to meet the daily needs of his or her family. But entrepreneurs and businesses have to create wealth before it can be given away.
Both Republicans and Democrats think they can tinker their way to creating an economy with less inequality. Both sides miss the point, and ignore the central role of government fiat money in the problem.
