Many urban police departments fail to make arrests in even half of the murder cases in their jurisdictions. Imagine if a private sector policing firm had a similar rate of failure.
Lawmakers once tried to legislate the value of Pi.
Even if we can observe amazing amounts of economic progress in the face of rising government intervention, in a relatively free economy, this can always be attributed to the resilience of the market system, and the power of human innovation and productivity.
Thanks to Trump's tariffs, discount stores have to raise prices — thus increasing the cost of living for ordinary Americans.
The aim is no longer the "dictatorship of the proletariat," because this project has failed. The new goal is "the dictatorship of the intellectuals."
Chile would be even better off today had it adopted Mises-style laissez-faire over Milton Friedman's monetarism. But even a Friedmanian regime is far superior to the Keynesian economies that have ruined Argentina and Brazil.
The Phillips curve cannot be a basis for a sound theory of what sets in motion price inflation.
The Fed's policies over the past decade have resulted in a rapidly widening wealth and income inequality.
The 2018 Nobel Prize in economics has gone to Yale̵
