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In a true market economy, the financial success of one person cannot conceivably be the cause of someone’s else’s poverty. In fact, it's the opposite.
Bureaucracy and Regulation
Any time officials use “controls,” you know the policy is going to be a failure. Whether it is preceded by “price” or “rent,” this economically defiant measure produces destitution, deterioration, and destruction.
EducationPhilosophy and Methodology
The economist’s lot is to study a field in which, almost more than any other, human folly displays itself.
A few hours studying the lessons of history can prevent heaps of grave-digging in the coming years.
Since each person votes for different reasons, we can't morally say that the outcome of an election binds people to any specific law or policy.
Financial MarketsBusiness CyclesMoney and Banking
What causes financial crises, domestic and global, is the underlying, continuing credit expansion.
There's a long history of deliberately producing terrible scholarship with the intent of showing how arbitrary, political, and incompetent editors and publishers are.
World HistoryOther Schools of ThoughtPhilosophy and Methodology
The Nobel committee this year showed that it has embraced clever economic modeling as a replacement for scientific progress.