Ask most people why our economy is advanced, and they will likely will answer, “Technology.” Yet, technical knowledge is meaningless without capital development, and capital development is impossible without real savings.
David R. Henderson joins Bob to critique a recent Brad DeLong essay, which argued that the US had tried an experiment in "neo-liberalism" and that it failed utterly.
Peter Klein and Ryan McMaken discuss the challenge of creating a free world through markets and other private institutions in the midst of ever-gro
Many proponents of free markets have tried to cast aside the name “capitalism” as a descriptor of the market system. They should take caution before doing so.
Both economists and laypeople carelessly refer to interest rates as the "price" of money. As Austrian economists have pointed out, however, interest is what people are willing to pay to control resources at the present time instead of waiting until later, time preference.
There is an attack on the customer by its anti-market enemies.
The Perfect Market Hypothesis claims that all movements in the market can be considered as random, as market players and prices adjust immediately to new information. However, market players do seek new information and seek to use it.
Joshua Mawhorter argues that slavery persisted largely due to government intervention rather than free-market mechanisms.
Texas politicians have decided their political "wisdom" can replace a market pricing system in production and distribution of electricity. Failure looms.
The late Walter Williams was a clear thinker when it came to issues of race and economics. While some socio-economic differences in society can be attributed to racism in society, most of it cannot, and Williams was not shy in pointing out that fact.
