According to the Organization of Economic Cooperation and Development, "social expenditures" are expenditures that occur with the purpose of redistributing resources from one group to another, in order to benefit a lower-income or presumably disadvantaged population.
Revolutions and protests, violent or peaceful, only momentarily overcome the habit of civil obedience La Boétie talks about.
While Wednesday’s Republican Presidential Debate was yet another pathetic display of would-be tyrants battling for the right to one day have their portrait recognized by school children – there was one line of questioning that should give fans of Ludwig von Mises reason for optimism.
The problem with the central bank's easy-money policies is not primarily that it leads to rising prices. The big problem is that it leads to the crippling of the wealth creation process and the movement of resources from productive to non-productive sectors.
Government planners are fond of dreaming up new ways to force people out of their cars. But automobiles have long been a boon to ordinary working people who can access less expensive goods and better jobs because of them.
James Bond is not a name that's typically mentioned in discussions of humble foreign policy or the importance of enforceable property rights.
Neoclassical economists make too many assumptions and decree that the desires of consumers must conform to some external definition of what's "rational." But consumers like to decide for themselves what they want, and when they want it.
