The Role Played by Unemployed Factors of Production in the First Stages of the Boom
[This article is excerpted from chapter 20 of Human Action: The Scholar’s Edition and is read by Jeff Riggenbach.]
Another Kind of Liberalism
Professor Raico stresses that there was another tradition within classical-liberal thought, which recognized the interdependence between religion and liberty. This tradition includes most notably the three great thinkers portrayed in Raico’s 1970 doctoral dissertation.
Money vs. Wealth
Whenever someone sells stocks to raise cash, there must be someone on the other side of that transaction who is losing cash in order to acquire more stocks.
The L. Neil Smith – FreeTalkLive Copyright Dispute
I have long been a fan of libertarian sci-fi author L. Neil Smith. I’ve read perhaps eight or ten of his novels, my favorites being The Probability Broach and The Gallatin Divergence, both of which I highly recommend. The only one of his I disliked–and I disliked it a lot–was Hope, co-authored with Aaron Zellman.
The Job-Killing Impact of Minimum Wage Laws
Kudos to the Center for Freedom and Prosperity Foundation for a brilliant and hard-hitting short video demolishing the perennial economic fallacy that minimum wage laws benefit low-skilled workers. It is perfect for introducing the topic to a Principles of Economics class.
Boycott BP?
On Reddit, some concerned soul pointed out that, “Boycotting BP hurts the local station owner a lot more than BP corporate,” citing a NPR story.
Of course, most BP boycotters would be pained to realize that it also would likely hurt the Gulf clean-up itself.
Defending the Rate Buster
There is as much work to be done as there are unfulfilled desires. Therefore, no matter how much work the rate buster completes, he cannot possibly exhaust or even make an appreciable dent in the amount of work to be done.
The Writing on the Wall
In the mid-19th century, a new political movement arose: socialism. Germany was its epicenter. The German Karl Marx was its leading thinker, and the Social Democratic Party of Germany its leading organization. The socialists denounced capitalist inequality and argued that the obvious solution was government ownership of the means of production.
From the outset, many questioned the practicality of the socialists’ solution. After you equalize incomes, who will take out the garbage? Yet almost no one questioned the socialists’ idealism.
Eugen Richter and the End of German Liberalism
[The Review of Austrian Economics, 1990]
Introduction
For several generations now there has existed an interpretation of modern history conditioning and shaping the views held by nearly all educated people on the great issue of socialism versus the market economy.
