Facts and Data Have No Meaning without a Theory to Explain Them
Mainstream economists claim that data alone can explain economic actions. Austrians know that without theory, data explains nothing.
Mainstream economists claim that data alone can explain economic actions. Austrians know that without theory, data explains nothing.
While personal autonomy is a major topic of conversation, for Rothbard the most important thing is liberty, and liberty and automony are not always the same.
Pakistan, like so many other countries, is seeing inflation close to spiraling out of control. As for finding causes, monetary authorities should look in the mirror.
When communism fell with the USSR, Murray Rothbard realized that the greater threat to liberty was social democracy. Events of the past few years have proven him correct.
The US Supreme Court has heard arguments for and against affirmative action in higher education admissions. Government needs to get out of the racial discrimination business altogether.
Among Mises's contributions was his doctrine of consumer sovereignty in a free market.
After praising Mises for his work on socialism, Tyler Cowen goes on to claim Human Action is "cranky and dogmatic." "Brilliant and insightful" would have been more truthful.
Government programs like Medicare are called insurance, yet they are anything but. There is a difference between public and private plans.
At a time when inflation once again ravages the dollar, we recall Murray Rothbard's wisdom in his article "The Case for a Genuine Gold Dollar."
The Ponzi game known as selling US government debt is nearing its end. The seller is running out of suckers.