Mainstream economists claim that they can use econometric models to emulate human action and, thus, create an economic laboratory. These models, however, cannot tell us about cause-and-effect, which is vital to understanding praxeology and economic behavior.
Long a constitutional monarchy with ties to Great Britain, many in Jamaica are looking to end the old relationship and become a republic. But is this movement simply a reaction to anti-colonialism, and what kind of constitution would the new republic create? So far, no answers.
Bob Murphy critiques New York Assemblyman Zohran Mamdani’s proposal for a government-run grocery store, dissecting its economic flaws and highlighting why such policies fail in practice.
What happens when a society consumes its seed corn?
What do we mean by equality? F.A. Hayek believed that equality under law and the socialist belief of material equality were opposed to each other. Furthermore, he held liberty to be necessary for civilization itself to flourish.
A relic of the Cold War, the US embargo and travel restrictions to Cuba violate American freedoms and they accomplish nothing to end Cuba's communist regime or win freedom for Cubans. Yet, this failed policy has persisted for nearly 65 years with no end in sight.
Economist Joseph Salerno, an expert on the Austrian School, money, and methodology, joins us to talk about what makes the Austrian School of economics different.
Before the American Revolution, there were the Levellers, who sought liberty during the English Civil War. While their influence on the American colonists would be indirect, nonetheless, many of their ideas reflected what came after American independence.
In most of the world, inflation is no longer an exception, it is the rule. Official inflation targets of 4 percent, 5 percent, or even 6 percent per year have become normalized.
In this week's Friday Philosophy, Dr. David Gordon reviews Profit Without Apology: The Need to Stand Up For Business by Onkar Ghate and Dan Watkins. While praising the effort, he also shares some concerns.
In examining the Austrian Regression Theorem of Money, Joshua Mawhorter takes on the Chartalist/MMT claim that government gives money its value. The Chartalist/MMT advocates lack a necessary cause-and-effect mechanism to prove their claims.
The Power and Market group looks at the redistricting fight, tries to make sense of Trump’s trade deals, and discusses the possible meeting between Putin and Trump.
How did Europe move from a collection of impoverished city states and kingdoms to a prosperous state of affairs? Europeans learned the value of contracts, private property, and the limited power of the state, and in turn, they flourished.
There is much gnashing of teeth and pulling of hair by just about every leader in the West, especially by an almost apoplectic President Trump, over a so-called “sinister threat” by the BRICS.
One cannot deny that American institutions have been corrupted by leftist thought, which demonstrates the success of Italian communist Antonio Gramsci's call to bring about socialism in the West by eroding the institutional barriers against it.
Artificial Intelligence is advancing, but people often fear it for the wrong reasons. AI is not a threat in itself, but rather becomes a threat when the state uses it as one more tool to limit individual liberty and to engage in oppressive behavior.
The recent attack by Israeli setters on the village of Taybeh in the West Bank has brought attention to the conflicts between Israel and the Christian population in Palestine. American Christians who uncritically support Israel should take a harder look at what is happening.
The destruction of Hiroshima and Nagasaki was a war crime worse than any that Japanese generals were executed for in Tokyo and Manila. If Harry Truman was not a war criminal, then no one ever was.
