Patent and copyright, to take the two worst manifestations of IP, are nothing but state monopolies that violate property rights. IP is antithetical to capitalism and the free market.
In this small gem of a book Professor Bagus has given us much more than an explanation of why the euro will fail the common man in Europe.
The economy is now a networked economy. Some people even say that in this networked world centralized managerial hierarchies are obsolete; in the future, they will be replaced by decentralized, disaggregated, peer-to-peer communities.
The Lincoln regime destroyed the system of federalism, or states' rights, that was established by the founding fathers. After the war, the union was no longer voluntary, and all states, North and South, became mere appendages of Washington, DC.
More and more journalists and economists are calling for a return to "sound money." Joseph Salerno's new book provides a rigorous examination of what sound money really means.
The principle of sound money consists in affirming the market's ability to choose and maintain money (and the enormous benefits this has provided to society) and also in opposing any government meddling in money.
Many academic economists are beginning to worry: Could the Federal Reserve itself become insolvent? In this article I'll explain these fears and I'll argue that the Fed, with its printing press, cannot really go bankrupt the way other corporations can.
