Six hundred years before Carl Menger wrote his Principles, Thomas Aquinas was writing about the role of subjective valuation in economic exchanges. His work helped lay the groundwork for further advances in economic theory.
There‘s a new sheriff in town, and that spells trouble for the vast federal subsidies that undergird much of higher education. With more universities becoming R1 research institutions, the competition for dwindling federal dollars will change the higher education landscape.
International organizations like the EU and UN are creations of states and serve the states‘ elites. We can‘t “improve” them or make them more “efficient.”
Belief in the fairy tale known as Modern Monetary Theory not only is endemic in US academic and government circles, but is also making headway in Great Britain. We are being forced to learn all over again the lessons of inflation.
By their nature, free markets promote harmony between people and increase overall standards of living. This view is radically different from the ones promoted by Marxists who believe that only “class interests” matter.
This episode explores the economic implications of deflation, debunking the mainstream fear that falling prices cripple economic growth.
Thanks to the reckless policies of the Federal Reserve, businesses are now facing the realities of an economy ravaged by inflation. Look for more signs that say “Closing.”
This week in Friday Philosophy, David Gordon reviews The Tariff Superstition: Why Protectionism Always Fails and Who Really Pays the Price by Marcel Kedosa, who levies devastating arguments against protective tariffs, sometimes using the same arguments used by Murray Rothbard.
The end result will be an even more legalized theft as American producers that use imported parts for their own manufactured products are plundered by tariffs.
Abraham Lincoln is best known for his role as a wartime president, but his economic policies were a precursor to the New Deal. From railroad subsidies to a national banking system, Lincoln paved the way to the Progressive Era and beyond.
