[Reprinted from Free Market Economics: A Basic Reader, compiled by Bettina G. Greaves.]

In general the neoclassical school has followed a tradition which predated the subjectivist revolution and involves a productive system in which the different factors of production give rise, in a homogeneous and horizontal manner, to consumer goods and services. No thought whatsoever is given to the immersion of these factors in time and space throughout a temporal structure of productive stages, an aspect Austrian theorists typically do take into account.

Our friend Daniel Lacalle was interviewed recently by BBC to discuss recent developments between trade negotiations between the US and China. 

On his blog, he goes on to further explain why a trade war would be particularly devastating for China.

Ryan McMaken joined Laura Ingraham and Chris Hahn last night to discuss whether America is really facing an “epidemic” of school shootings. As Ryan notes, studies indicate that the stats show otherwise, and picks apart some of the most widely used claims made by opponents of gun rights.

Tyler Harrell was found guilty of a charge of aggravated assault today in a case that should concern anyone who cares about the right to self-defense.

Nicolás Maduro may have received more votes in Venezuela’s recent presidential election, but the record-low voter turnout is widely seen as its own form of protest against his increasingly oppressive socialist regime. So as long as Maduro’s government controls the voting process, his opponents will continue to advocate elections boycotts to try to erode the legitimacy of his government.