Insurance is a market institution—i.e., it emerged through voluntary exchange aiming at satisfying the needs of the parties involved. Private health insurance should not be mistaken for public health insurance, which constitutes an element of a state’s social policy. They differ to such a great extent that one can even claim that the latter is a contradiction of the former. This essay will show the most notable differences between them.

The average square footage in new single-family houses has been declining since 2015. House sizes tend to fall just during recessionary periods. It happened from 2008 to 2009, from 2001 to 2002, and from 1990 to 1991.

In a recent blog post on the Marginal Revolution blog, Ludwig von Mises is categorized as an underrated thinker. That’s undoubtedly true, especially when considering his many groundbreaking contributions to economics. Mises was also one of the first to be named a distinguished fellow of the American Economic Association in 1969.

Such is the intellectual stature of Ludwig von Mises that even many decades after his passing the opponents of classical liberalism and laissez-faire capitalism continue to attack his life’s work.

[This article is adapted from the introduction to the Historical Revisionism panel at the 2022 Supporters Summit at the Arizona Biltmore.]

In his novel 1984, George Orwell noted the role of the regime in controlling information about the past. After being “re-educated” by the ruling party, the protagonist Winston Smith dutifully recited the party’s wisdom regarding the fact that “Who controls the past controls the future: who controls the present controls the past.”