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Whether we're talking about gasoline or toilet paper, the details of how the good is produced are irrelevant to the fact that price controls cause shortages. Only price freedom ends them.
Philosophy and Methodology
GDP is fine for counting things like washing machines. But it is quite useless for counting other basic indicators of the quality of life.
Big GovernmentHealthLegal System
Why are governments so enthusiastic about shutting down businesses when other less draconian measures are available and prudent? The answer lies in the fact that governments can act with near impunity and want to maximize their power.
Philosophy and MethodologyPraxeology
Quantitative methods can't be applied to human action, which is purposeful and not a mere reflex. For this reason, mathematical formulas can only describe events, never explain them.
Money and BanksMoney and Banking
Judy Shelton may be a tolerable—at least to Republicans—candidate for the Federal Reserve Board of Governors.
The Fed and the ECB have taken two different paths since the 2008 crisis. Here's what you need to know.
All economic and political systems involve competition over scarce resources. So it's wrong to say competition is the distinguishing characteristic of capitalism.