World History

It is man’s nature to strive ceaselessly after the substitution of more satisfactory conditions for less satisfactory.

Fergusson presents a compelling argument that the central bankers of Europe did not believe that the quantity of money had anything to do with the price level. And I suppose you think that our modern Fed rulers understand at least this much.

The famous physiocratic tenet that only land is productive must be considered bizarre and absurd.

In every country the socialists have become office seekers, aiming to get hold of the reins of government by parliamentary methods, and for no othe

The 17th-century Dutch Protestant Hugo Grotius, deeply influenced by the late Spanish Scholastics, developed a theory of natural laws that he boldly declared was truly independent of the question of whether God had created them.

I want to focus on how these times relate to history and how we can change the future by applying the economic way of thinking. I am therefore going to draw your attention to four different themes.

The first self-conscious school of economic thought developed in France shortly after the publication of Cantillon’s Essai.

The first self-conscious school of economic thought developed in France shortly after the publication of Cantillon's <i>Essai</i>. They called themselves "the economists" but later came to be called the "physiocrats," after their prime politico-economical principle: physiocracy (the rule of nature).

As with most regulations, the CFC ban hit the poor with a vengeance. Millions of perfectly functioning refrigerators could no longer be recharged with Freon, so everyone was forced to purchase new CFC-free appliances. This, of course, was especially difficult for those with low incomes.