Ludwig von Mises reminds us that thanks to the rise of markets and capitalism, human beings gained more access to more abundance than ever before. And it is the consumers, not the producers, who have power over the market process.
Although many analysts are and have been calling for a bottom in oil prices, there are three key reasons why oil can continue to fall substantially further from current levels near $30 per barrel.
On the eve of the World Economic Forum in Switzerland, William White, chairman of the Economic Development and Review Committee of the OECD and former chief economist of the Bank for International Settlements, delivered a dire warning concerning an impending meltdown of the global financial system.
The new trend among famous economists is pointing out the times they changed their views in light of new empirical findings. Far from defending economics as a science and a profession, this trend actually reveals the unscientific and ideological nature of mainstream economics.
Writing for Entrepreneur, Dr. Per Bylund outlines "3 Ways the Sharing Economy Changes Entrepreneurial Opportunity."
In the announcement of of his new health care plan this week, Bernie Sanders claimed that the US spends more on health care than any other country, and he said it as if it were a bad thing.
This is from the in-case-you-missed-it files. Thomas Sowell, my favorite Chicago economist, was a long-time supporter of the Federal Reserve bound by a Friedmanite monetary rule. In an interview in 2010, he called the Fed a "cancer" and advocated its abolition.
Following the discovery of the Americas, Spain began a 300-year period of booms, busts, war, and mercantilism. Only in the eighteenth century did the country begin to find prosperity through liberalization of trade and private property.
Enough economic warning signs are going off that the mainstream media is finally coming to grips with the fact that the debt and fiat money-fueled economy simply isn't quite as solid as the Federal Reserve and other central planners would have us believe.
