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Booms and BustsBusiness Cycles
The latest installment in the Understanding Money Mechanics series summarizes the theory of the business cycle originally published in 1912 by Ludwig von Mises and elaborated by Friedrich Hayek.
World HistoryPolitical Theory
A society in which [classical] liberal principles are put into effect is usually called a capitalist society, and the condition of that society, capitalism.
Bureaucracy and RegulationLegal System
Contrary to myth, Latin America has relatively few civilian-owned guns — either legal or illegal. But this hasn't prevented enduring high rates of violent crime.
Marx was wrong about the basics of value and exchange — and thus was wrong about the relationship between owners and laborers.
Protectionism and Free TradeU.S. HistoryPolitical Theory
So long as he uses a "national security" ploy, a president can raise taxes without so much as a debate in Congress.
Legal SystemTaxes and Spending
We're told that we pay taxes in return for government "services." But what happens when the state doesn't keep up its end of the bargain?
The EntrepreneurPolitical TheoryValue and Exchange
War and Foreign PolicyMoney and Banking