Economist Mark Hendrickson has written an accessible short book that examines some of the biggest flaws found in Thomas Piketty’s Capital in the Twenty-First Century. Hendrickson sums up the basics here:
Assessing Thomas Piketty’s Capital in the Twenty-First Century.
by Mark Hendrickson
Mises Daily Weekend by Jonathan Newman:
What if the government ran hair salons and the private sector provided auto registrations? Needless to say, getting a haircut would be a harrowing and soul-crushing experience. Meanwhile, registering your automobile would be another matter entirely.
It is accepted by most economists that initial increases in consumer spending or other outlays tend to set in motion a reinforcing process which supposedly strengthens the economic growth by a multiple of initial spending.
Mr. Max Ehrendfreund, writing in the Washington Post’s Wonkblog, believes that he has discovered something new: that the world is producing too much and doesn’t know what to do with it. His solution, of course, is to confiscate the overproduced products, such as oil and cotton, from its rightful owners and give it to the people who need it.
Japanese Prime Minister Shinzo Abe spoke before a joint session of the U.S. Congress on April 29, 2015 and offered his “eternal condolences to the souls of all American people that were lost during World War II,” but never directly said that he was sorry for Imperial Japan’s sneak attack on Pearl Harbor on December 7, 1941.
Today is the 116th anniversary of Hayek’s birthday. Peter Klein summarizes his contributions in under 4 minutes here. Also, it’s 20% off all Hayek books and memorabilia in the Mises store.
