Economists are fond of claiming that employing data and statistical analysis is actually “doing economics.” No, they are “doing data” and nothing more. Real economics employs real theories that explain economic phenomena.
In the wake of the financial meltdown fifteen years ago, some countries placed strict limits on piling on public debt. Despite cries that this harms investment opportunities, the ”debt brakes” have worked well.
Modern international law tends to grant a right to “remedial self-determination” only in extreme cases. Unfortunately, this position accepts that states ought to be free to violate human rights so long as the abuses fall short of war crimes and genocide.
When Adam Smith and the English classicals promoted division of labor as the most important ingredient in economic development, it took Carl Menger and his Austrian successors to point out that error and promote the proper economic theory of production.
Continuing his examination of Scott Sehon's book on socialism, David Gordon asks if socialism violates people's rights. Gordon concludes that it does.
We don't think of Serbia as a “free” country, but there were movements toward limited government in the past. Unfortunately, the events of the twentieth century overwhelmed the freedom movements there.
For close to eighty years, Argentina has been the world's poster child for reckless and spendthrift government. Today, the world watches it for a very different reason: Rothbardian reforms.
Federal spending is not the only out-of-control government spending in the US. A number of states have been overspending and now face declining revenues. Will bankruptcies follow?
Richard Cantillon, whom Austrians consider to be the real father of modern economics, noted that new money creation has uneven effects. Jonathan Newman demonstrates how those effects take place.
Block’s call for total war and the indiscriminate slaughter of innocent civilians in Gaza is the complete and uninhibited rejection and renunciation of the nonaggression principle that constitutes one of the very cornerstones of the Rothbardian system.
