The Social Function of Insurance
With insurance the client pays a small amount of money (the premium) in exchange for a more certain future, in which his wealth will not fluctuate as wildly in different possible scenarios.
With insurance the client pays a small amount of money (the premium) in exchange for a more certain future, in which his wealth will not fluctuate as wildly in different possible scenarios.
These programs have caused a massive diversion of savings into government consumption, not only by diverting taxes into current government spending, but also by undermining one of the most important motivations for private saving and investment.
In the U.S., an almost unsurmountable gulf separates "society" from the intellectuals.
They think they are doing battle with capitalism and corporate greed; I say it is a pure and beautiful example of a market exchange, writes Stefano
NotHaus made it easy for the government to prosecute him, but the message is still clear: no competition with the dollar.
It was nearly 40 years ago that Murray Rothbard changed my life. I was then a PhD candidate in economics at the New School for Social Research in downtown Manhattan, while also teaching principles courses at a local university. And I was rapidly losing interest in the whole subject.
They think they are doing battle with capitalism and corporate greed; I say it is a pure and beautiful example of a market exchange.
The astonishing popularity of Rebecca Black's "Friday" video — which became the YouTube meme of all memes in the course of a wild six weeks — has mystified many critics.
What's especially brilliant about Ron's new book is that he doesn't just deal in abstractions. He takes on 50 difficult areas of politics today and shines a new light of liberty on each of them. There will be wailing and gnashing of teeth, and then enlightenment.