In a longer talk, I could discuss the role of police and enforcement of judgments, but this much should give some flavor of the legal system practiced by the Somalis. It provides an effective rule of law entirely without the backing of a government.
What, then, can be done with economic theory whose models resemble jokes about how many elephants can be fit into a refrigerator? And how, given the overrepresentation of often indecipherable mathematical symbolism, is one to distinguish good economics from bad?
Anyone that has lived in or toured a big city like New York, London or Tokyo will undoubtedly bump into black market goods being sold on the side o
The great Hans Sennholz writes about the future of the economy circa Decembe
1,028 leading economists have taken out an ad in the Wall Street
Ever think that the anti-capitalism of the press is exaggerated or non-existent?
The headline reads: “What to do when everything is Made in China?: A one-week attempt
You know, socialist governments are just so sweet. They pay people to take vacations, and surely no one can complain about that!
I have been covering the story of the sovereign governments’ ongoing ventures into capital markets with their accumulated currency reserves (
