The world doesn't follow predictable patterns based on averages of long-term probability. Ordinary people apparently know this better than statisticians do.
Governments routinely bribe suspects into accusing others in exchange for reduced sentences. Thus, suspects are willing to say pretty much anything prosecutors want them to. Governments are fine with this.
Rothbard’s work on welfare economics probably ranks among his least-known achievements, but it is truly a tour de force and another tribute to his great originality and talent as an economist.
While searching through my apartment after a tragic fire, under soot and ash, I found these “lost” Rothbard lectures, recorded at NYU in 1979 and 1980.
Those who believe in the free and unhampered market economy should be especially skeptical of war and military action. War, after all, is the ultimate government program.
Loose monetary policy can appear to work so long as real wealth is expanding. But money expansion weakens wealth creation over time, eventually leading to slower growth, lost wealth, and economic busts.
