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World HistoryHistory of the Austrian School of EconomicsPolitical Theory
Hayek is guilty of pointing out what should be abundantly obvious: both democratic and authoritarian regimes can commit grave crimes against human rights.
Financial MarketsMonetary Policy
Why would an investor buy a bond that pays a negative interest rate? The answer lies in understanding how central banks manipulate the economy.
Free MarketsLabor and WagesU.S. Economy
Last week Business Insider referenced a study to defend NYC's minimum wage law. Neither holds up well upon any sort of serious analysis.
Supply, demand, and prices affect human usage of natural resources in such a way that the most scarce and valued resources are economized and preserved. The practical effect is that valuable resources never really run out.
When robots may be more effective workers and possibly better engineers, they cannot figure out what is valued. That’s the task of entrepreneurs, who bet on what consumers will want.