As with East Germany, a liberalized Cuba would still require decades to catch up to its affluent neighbors, economically. North Korea is an even more extreme case. All these cases illustrate that political changes cannot substitute for the hard work of building wealth.
Thanks to the great Tatsuya Iwakura, who has translated numerous books by Austrian economists into Japanese, The Austrian Theory of the Trade Cycle and Other Essays, edited by Richard Ebeling, is now available as a Kindle book in Japanese.
Robert Mulligan, longtime Associated Scholar of the Mises Institute will join Indiana University East this summer as the new Dean of the School of Business and Economics.
The negative interest rates imposed by the Bank of Japan have begun to make their way into the Japanese banking system. Japanese trust banks have begun to impose negative interest rates on accounts held by institutional investors.
On the eve of World War II, Keynes delivered a chilling address on the BBC, talking about the "great experiment" of curing unemployment through war expenditure.
Years after his death, more students and scholars than ever are reading and building on the work of Murray Rothbard. Meanwhile, the Conservative movement that so often attacked him is quickly vanishing.
Subsidies, government quotas, and regulations of workers won't make us richer or better off. Only private owners and entrepreneurs can determine the best way to use labor (and capital).
New York will legalize MMA, but plans to tax Mixed Martial Arts events at an even higher rate than boxing or wrestling matches.
Speculation is swirling as to what the Federal Reserve might do next. None of the likely next steps are terribly promising.
Civilized man is adjusted to life in society and not to that of a hunter in virgin forests.
