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The concept of capital is the fundamental concept of economic calculation, the foremost mental tool of the conduct of affairs in the market economy. Its correlative is the concept of income.

Imposing economic sanctions upon Russia is tantamount to throwing gasoline on a raging fire. The sanctions will not end the Russian invasion of Ukraine and only will make things worse.

Reparations is a buzzword in the present political climate, but most plans involve an expansion of the welfare state. But there is a form of reparations that is legitimate.

For all the talk of decolonialization, many Third World countries that became independent set up regulatory regimes that mirrored their former "mother" country.

America's Cold War relationships have created conditions for very hot wars to take place. The current war in Ukraine is part of that sorry Cold War legacy.

While the Fed governors claim "all is well" and that inflation is "transitory," the bad news continues to pile up. Inflation will be with us for a long time.

The passing of Professor George Ayittey stills a powerful voice for free markets in Africa.

Utilitarian economists, grounded on no ethical theory of property rights, can only fall back on defending whatever status quo may happen to exist.

The current extraordinary inflation and actually started stagflation is the result of a tremendous macroeconomic mistake of the state economic poli