The aim is no longer the "dictatorship of the proletariat," because this project has failed. The new goal is "the dictatorship of the intellectuals."
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The Fed's policies over the past decade have resulted in a rapidly widening wealth and income inequality.
Walter Block has reached an amazing milestone.
The Phillips curve cannot be a basis for a sound theory of what sets in motion price inflation.
A true free trade deal would simply reduce or eliminate tariffs and other trade barriers.
Chile would be even better off today had it adopted Mises-style laissez-faire over Milton Friedman's monetarism. But even a Friedmanian regime is far superior to the Keynesian economies that have ruined Argentina and Brazil.
Other Schools of Thought
Unfortunately, the economics Nobel this year neglects the problems at the heart of the State — the government failures that pollute and impoverish.
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