The Myth of “Macroeconomics”
The macroeconomic approach looks upon an arbitrarily selected segment of the market economy as if it were an integrated unit.
The macroeconomic approach looks upon an arbitrarily selected segment of the market economy as if it were an integrated unit.
Americans enjoy one of the world's highest incomes levels. But their fondness for spending means they have have relatively low levels of wealth.
If Brazil truly is "the country of the future," it will be due to it embracing the ideas of Mises, Hayek, and Rothbard.
Maybe the best thing we can do then is to let ourselves be guided by Bastiat's saying: "The worst thing that can happen to a good cause is, not to be skillfully attacked, but to be ineptly defended."
Students share their experiences from this year's Mises U.
My hope is that my new book, The Problem with Socialism, will be viewed as a companion to Henry Hazlitt's classic Economics in One Lesson.
Economics, as we have now seen again and again, is a science of recognizing secondary consequences.
Thanks to government funding and a lack of intellectual diversity, critical thinking has become a mere afterthought at American universities.