J.B. Say and the French Liberal School absorbed a method of approach that was, implicitly at least, subjectivist and individualist. And herein lies the reason for many modern critics' disparagement of the Liberal School.
The Scholastics were constrained in their development of economics by considerations of deference to authority and by the relatively slow development of the external economic conditions upon which to reflect.
Vytas Žukauskas tells the story of Lithuania after the Soviet Union.
Pundits are hoping that instead of a crisis, we just get a "global economic slowdown." Given the damage done by central banks, a sustained slowdown would be a best-case scenario.
Pumping yet more credit into the Eurozone is as effective as giving adrenalin to a dead horse.
Existing political tensions within the EU are certain to escalate as the EU falls behind in global economic power, and Brussels, hooked on profligacy, for the first time faces budget cuts.
Mexican interventionists are now pushing the idea that Mexico is a country dominated by a free-market ideology which they call "neo-liberalism." But any serious look at Mexico's government makes it clear this is not the case.
The European central bank has no ammunition left with which to address any serious economic downturn.
Since 2008, China has amassed a mountain of debt, and continues to operate countless "zombie" companies and money-losing factories.
Germany’s role as the locomotive and economic leader of the entire bloc has been crucial for the last decade.
