10/29/2019Quarterly Journal of Austrian EconomicsBernardo Ferrero
A closer look at differences between Mises's and Schumpeter's economic theories suggests that their fundamental divergences have their origin in methodological and epistemological questions.
Richard Vague's new book on financial crises repeats many old myths about economic booms, while failing to understand the role of malinvestment and central banks.
A truly effective criminal justice system would be built on restitution, not imprisonment and punishment. Moreover, government-funded prisons have no incentive to rehabilitate prisons since they receive funding regardless of outcomes.
After quoting H.L. Mencken’s famous quip, “Nobody ever went broke underestimating the intelligence of the American people,” Andrews wonders, “I don’t know if old H.L. was a bookmaker, but he would have been a great one if he had been.”
If one is concerned about Briarwood’s new private police force, one also ought to be hysterical over pretty much any police force in the United States. But the state seems to get a pass in areas where non-state entities are treated with suspicion.
Minor-league hockey players know what they're getting into when they sign their contracts. But now they want the government to overturn their contracts and force a pay raise.
