In the early years of the United States, legal systems were far more localized and flexible. But elites preferred consistency over flexibility, and the rich could afford the more bureaucratic legal institutions that ordinary people could not.
Even a degenerate capitalism produces more prosperity than the best socialism. Therefore, the task ahead cannot be to remove capitalism in favor of socialism but to make capitalism better.
Selgin thinks fractional reserve banking critics are akin to "flat-earthers", but he gets some important points wrong.
In last weekend's election, Swedish voters appear to have handed more power to a populist party.
John Law's disastrous Mississippi Company bubble can still instruct us today.
The government's near-monopoly on education services has destroyed innovation and choice. Meanwhile, little is gained from relentless increases in spending.
Private cities may seem outrageously radical or utopian, but we are already using this approach very successfully in other areas of our lives. The transfer to our social order is only the last step in a development already under way.
The British Broadcasting Corp will remain firmly ensconced within the British state for the foreseeable future.
It is impossible to force the economic development of society by artificially encouraging investment and initially financing it with credit expansion. This policy can only have benefits if economic actors also elect to begin saving more at the same time.
The "experts" are complaining about advertisements from formula companies. Meanwhile, the US government spends billions on subsidizing formula through welfare programs.
