To Murray N. Rothbard, pioneer of praxeological analysis with all good wishes. March 2nd, 1967. ~Ludwig von Mises
The EntrepreneurU.S. HistoryWorld History
One of the most instructive of all examples from maritime history is that of privateering, that is, the employment of profit-seeking, private armed ships during wartime.
Financial MarketsMoney and BanksMoney and Banking
A major factor that can explain the apparent contradiction between weakening so-called fundamentals of today — and the stock market's continued march upward — is changes in monetary liquidity.
Money and BanksMoney and Banking
Judy Shelton may be a tolerable—at least to Republicans—candidate for Federal Reserve Board of Governors.
Given that Fed policymakers are of the view that a decline in the annual growth of prices is bad for the economy they are most likely to embark on very easy monetary policy in near future.
Global EconomyBusiness Cycles
Creative design of statistics cannot solve the persistent crisis. The core of the problem lies in a misguided economic policy that zombifies the Japanese economy and thus undermines prosperity.
The central bank can try to manipulate the interest rate to whatever level it desires. However, it cannot exercise control over the underlying interest rates as dictated by people’s time preferences.
PovertyTaxes and Spending
Beyond the usual arguments about incentives and taxes, a Universal Basic Income is a dangerous policy that supercharges the state and threatens to heighten tensions between different groups in society.