As the world’s second-largest economy attempts to return to its precrisis glory days, Beijing could potentially deal with a new pandemic that could have a sweeping effect on financial markets at home and abroad: a bond default crisis.
The Igbo ethnic group in Africa is known for entrepreneurship, economic success, and a high degree of individualism. The group's cultural background can help us understand how culture and capitalism reinforce each other.
Mises argues that the nation has a fundamental and relatively permanent being independent of the transient state (or states) which may govern it at any given time. Thus he refers to the nation as “an organic entity [which] can be neither increased nor reduced by changes in states.”
Government jobs may help reduce the official unemployment rate, but they actually damage the economy. After all, most government workers are employed in the business of redistributing wealth and regulating private property.
Quantitative methods are indeed useful and enlightening in the fields of economic history and descriptive economics. For Mises, however, these fields do not fall within the field of economics, narrowly understood.