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Without markets, it would have been impossible for a country like Rwanda, ravaged by the war, to achieve the growth it has experienced over the past twenty years.
David Gordon is not convinced by the usual arguments claiming property owners ought to be forced to sell their property for an arbitrarily determined "market price."
Other Schools of ThoughtPhilosophy and Methodology
Learning the history of economic thought is important not because every economist has been right, but because we can learn from their mistakes.
The EntrepreneurFree Markets
Governments that hamper entrepreneurship certainly damage it in the near term. But these measures destroy the conditions necessary for innovation and entrepreneurship in the future as well.
The EnvironmentGlobal Economy
As H. L. Mencken wrote, “For every complex problem there is an answer that is clear, simple, and wrong.” The EU's Green Deal is the latest example.
If Chileans are concerned about inequality, real solutions are likely to be found in combating the central bank and other anti-market institutions.
Philosophy and Methodology
Why should we think that government officials are better at acting “rationally” than those they regulate? Even if we were to concede that smoking deserves to be restricted, why should we think the government can do it in a reasonable way?
Booms and BustsMoney and Banks
The mainstream National Bureau of Economic Research definition of recessions is of little value. Real saving, not consumer demand, is the real driver behind economic growth.