Behavioral economists and psychologists define as irrational anything that doesn't fit into a narrow model of behavior. Anything "irrational"—like buying the "wrong" stock—must be fixed with government regulation.
Let us begin with what CBDCs definitely are not: they are not a new kind of cryptocurrency akin to bitcoin.
Let us begin with what CBDCs definitely are not: they are not a new kind of cryptocurrency akin to bitcoin.
Though he was generally a Ricardian, John Stuart Mill thought that the main obstacle to socialism is that people might not yet be civilized enough to put it into practice.
The doomsday mantra of climate activists is guided by antihumanism and a desire for control. This worldview is a grave danger to human flourishing.
A deflationary policy is just another type of intervention and in this sense it sets in motion a different form of the misallocation of resources.
Firms, like other organizations, are unable to substitute the market in coordinating their economic plans. If they ever tried to eliminate the market creating them, they would face the same problems that all planned economies do.
This paper extends Austrian business cycle theory to the command economy and demonstrates that Mises’s socialist commonwealth would not be free from Rothbardian error cycles.
Much of the resistance to libertarian anarchic proposals stems from a genuine inability on the part of one’s audience to entertain such proposals as serious alternatives to the status quo.
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