Capitalism

Economic historians usually are mistaken when looking at the causes of the Panic of 1857. Douglas E. French sets the record straight.

Bob revisits Böhm-Bawerk’s critique of the exploitation theory of interest to answer modern claims that billionaires like Elon Musk must have “stolen” their wealth from workers who supposedly create 100 percent of a firm’s value.

Ever since independence more than 40 years ago, Zimbabwe has been wracked with socialism, inflation, and corrupt political leadership. Yet, there is a way forward for the nation, if Austrian Economics can be in its future.

Billy Joel memorialized the workers of the steel industry in his 1982 song “Allentown.” While popular culture seems to dwell on tragedy, the creative-destruction of the market process also involves progress.

One of the most enduring myths of American history is that Herbert Hoover was a laissez-faire advocate who “did nothing” while the US economy slid into depression. How did he gain this undeserved reputation?

The New York Times claimed in its 1619 Project that plantation slavery was the basis for American capitalism. However, research shows that the plantations were anything but capitalist enterprises.

History Professor Heather Cox Richardson has grown very wealthy using her writings to attack the creation of wealth itself. While her columns are popular, they also are filled with economic illiteracy.

Contra the recent winners of the Nobel Memorial Prize in economics, free markets, private savings, and entrepreneurship not so-called innovation, is what drives a market economy.

Professor Jesús Huerta de Soto gives his acceptance speech of Argentina’s Order of May for Merit Award this year in Buenos Aires, Argentina.

Henry Hazlett wrote in Economics in One Lesson that each generation has to relearn economic fallacies that government employs when implementing bad policies. New Yorkers are about to learn a lot of new lessons.