Facing an unimpressive economy, the Fed is already backing off its supposed plans to rise interest rates and scale back its balance sheet.
Money and BanksMonetary TheoryMoney and BankingOther Schools of Thought
Keynesian economics is the economics of debt-addicted, lower-class spendthrifts: modern governments.
Venezuela has never done a good job exploiting its alleged oil reserves — partly due to its inept socialist state. But with so little capital put into oil, little of the country's oil is ripe for extraction.
Legal SystemInterventionismMonopoly and Competition
Programs like Medicare are a great deal for early participants, but they create huge liabilities for taxpayers later down the line.
Steven Kates has composed a modern version of Leonard Read’s classic essay “I, Pencil.”
Legal SystemPhilosophy and Methodology
The recent controversy over Jeff Bezos has spawned an interesting debate among free-market economists on whether blackmail should be legalized.