Power & Market
In 2017, the US spent more than $50 billion on foreign aid. Why then are so many of the countries receiving this aid still living in dire poverty with starvation as a constant threat? Why doesn't this aid foster economic growth and development in those regions? Because just throwing money at a problem, foreign aid in this case, simply doesn't work.
So then, what are the prerequisites for economic development? What will improve standards of living? These are some of the issues addressed in a new course, Development Economics: An Austrian Perspective. G.P. Manish will explain the roles time preference and capital accumulation play in economic development as well as the importance of a fully integrated structure of production. He wraps up the course with a case study of economic development — and economic disaster — in India since gaining its independence from Great Britain in 1947.
To understand the modern state, you must understand the Progressive Era. Thanks to the generosity of Mr. Tyler Folger, Murray Rothbard's definitive book on the Progressives is now available as a free audiobook.
The Summer 2017 issue of the QJAE is now online. (Here are the full archives.)
Justice in the Marketplace in Early Modern Spain: Saravia, Villalón, and the Religious Origins of Economic Analysisby Michael Thomas D’Emic. Reviewed by Eric Clifford Graf
The Man Who Knew: The Life and Times of Alan Greenspan by Sebastian Mallaby. Reviewed by David Gordon
The International Monetary System and the Theory of Monetary Systems by Pascal Salin. Reviewed by Carmen Elena Dorobăț
The Theory of Money and Credit, Ludwig von Mises's 1953 treatise on monetary theory, is now available as a free audiobook narrated by Jim Vann.
In a step-by-step manner, Mises presents the case for sound money with no inflation, and presents the beginnings of a full-scale business cycle theory.