The 2021 Nobel Prize in Economics has been awarded to Berkeley's David Card, MIT's Josh Angrist, and Stanford's Guido Imbens for their work on "natural experiments," a currently fashionable approach to estimating the causal impact of one economic variable on another.
Biden's spending plan is presumed to be costless, because it will not increase the national debt and since it will be paid for by imposing $2.1 trillion of higher taxes on those designated as "rich."
It is important to get some much-needed context when examining a disease which is being used to justify unprecedented increases in state power and violations of human rights.
"Praxeology … does not deal in vague terms with human action in general, but with concrete action which a definite man has performed at a definite date and at a definite place."
While the US was able to give the Soviets a bloody nose by pouring billions into the mujahideen, it’s undeniable the US created a Frankenstein's monster that ended up turning on its creator.
Overestimating foreign "threats" is a threat in itself. It invites wasteful spending while provoking "enemies" who would not have been rivals otherwise. John Mueller explains in his new book.
The current surge in inflation is not due to a shortage of supply as central banks want us to believe. It is primarily due to soaring consumer demand fueled by monetary creation.
The Soviet military invasion was in no sense an arrogant drive for the conquest of all of southwest Asia. It was an act, not of strength, but of profound weakness.
Why do individuals desire to have money, which cannot be consumed and produces nothing? To provide an answer to this one must go back in time to establish how money emerged.
Cultural disparities between national, linguistic, or cultural groups can prevent the spread of trade and hamper the adoption of useful economic strategies.
