One of Ludwig von Mises’ most insightful parts of Human Action is his discussion on the reason to hold a cash balance. By using his construct of the “evenly rotating economy”, Mises shows that the only reason why an individual
The worship of science is a peculiar feature of our age, especially given the incredibly broad and non-specific nature of the term, and the vast quantitative and qualitative differences in outcomes from various types of research within the scientific disciplines.
Take a look at the breathtaking array of government policies designed to fix every conceivable problem citizens might encounter. Look at the laws governing labor unions, minimum wage laws, occupational licensure, unemployment insurance, stimulus spending; look at the endless efforts
In a recent Business Insider interview Paul Krugman showcased his uncanny ability to utterly mislead viewers on the state of economic science, without actually lying. Here’s a portion of the exchange (which I am typing from the verbal interview): JOE
From today’s Open Europe news summary: The FT reports that the ECB will press ahead with its plans to purchase Asset Backed Securities (ABS) despite both the French and German government rejecting the bank’s calls for them to provide public guarantees to