Gene Callahan asks why Austrian economists distinguish between “land” and “capital goods” as separate factors of production. It’s an interesting question. In the present post, I’ll go over the prima facie reasons one would be tempted to abandon the classical
Re: Luxembourg tax regime under siege This recent article by Vanessa Houlder of the Financial Times, London, details the economic success that Luxembourg has enjoyed by keeping its business tax rates at a moderate level and the threat to that success
Lately an old controversy has flared up again, but with an interesting twist. Literally for decades, followers of Ludwig von Mises have lamented the fact that the word “inflation” now generally means “an increase in (consumer) prices,” whereas historically it
For most libertarians, the central tenet governing all politically philosophy is the Non-Aggression Principle (NAP). The NAP states that we must never use force against another person, except in the prevention of force itself. By consistently applying the NAP, as
Re: EU threatens Germany with fine for running too large a surplus Ambrose Evans-Pritchard of the Daily Telegraph reports that the International Monetary Fund is criticizing Germany for running too large a trade surplus with the other European Monetary Union states
Re: Eurozone needs quantitative easing Dear Sirs: All the so-called benefits that you expect the eurozone countries to derive from a European Central Bank program of quantitative easing are myths. Myth number one: QE will spur an economy to greater production.
Paul Krugman reads the latest long-term forecast from the US Congressional Budget Office (CBO) and he likes what he sees. Even though the nearby graph is the CBO’s projections for the growth of federal debt, Krugman nonetheless offers this rosy