Krugman famously admitted he doesn’t read conservative economics bloggers. Maybe he should, though, so he can stop making a fool of himself when he tries to rewrite history. Today’s example is Krugman’s recent post arguing that right-wing economists have created a myth
Proponents of limited government have long recognized the dangers of excessive centralization. When an entity becomes large and many diverse parts are bound by a single nexus of control, it loses flexibility, adaptability, and humanity. This is true of government,
“Thus David triumphed over the Philistine with a sling and a stone; he hit the Philistine and killed him, though he had no sword in his hand.” – 1 Samuel Chapter 17. Imagine a small businessman standing up to the
For years, Paul Krugman has been warning that the inadequate fiscal stimulus package of early 2009, coupled with the disastrous spending cuts of the “sequester” package, were leading to a “postmodern recovery” and “jobless trap” for the millions of Americans locked
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Reprinted from Mises.org This week’s internet-fueled Outrage of the Week is the case of Harvard attorney Ben Edelman who has insisted on “notifying the authorities” to punish a small restaurant for “overcharging” the professor to the tune of four dollars. Boston.com reported on the case,
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Two years after I was born, the Soviet Union hit its final nadir. The former Evil Empire collapsed under the weight of its own economic contradictions, never to recover its original form. The fall was the greatest victory for liberty
Back in September the pro-Affordable Care Act (ACA) website Vox touted a new working paper by Jonathan Gruber and Robin McKnight. There was nothing explicitly dishonest in the study or the coverage of it, but Vox’s readers would walk away
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When scientists of the early 20th century realized the possibility of producing electricity from radioactive elements, such as radium and, in later years, uranium, research for harvesting energy from the atom grew stronger. With the discovery of the neutron, which
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Reprinted from Taki’s Mag I was in New York when Lehman Brothers collapsed, in Dubai when property lost half its value in a few days, and in Dublin recently when there was a demonstration against the government. I do not
Last month Preston Manning had an interesting piece in The Globe and Mail in which he outlined a strategy for getting the public to support government measures of “harnessing markets and fiscal policy” in order to correct negative externalities, especially
This post will seem simple to some, but I want to correct a slight confusion I’ve seen over the last several years in the economics blogosphere. (I was motivated to write because of an exchange with Nick Freiling, who loves
The process through which lax credit conditions cause malinvestments (the nub of the Austrian Business Cycle Theory) is commonly passed over without much ado. In sections 22.2.1 to 22.2.3 of my recent book, Finance Behind the Veil of Money, I
Reprinted from LewRockwell.com At the heart of the Christmas story rests some important lessons concerning free enterprise, government, and the role of wealth in society. Let’s begin with one of the most famous phrases: “There’s no room at the inn.”
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Reprinted from The Telegraph On 16 June 1941, as Hitler readied his forces for Operation Barbarossa, Josef Goebbels looked forward to the new order that the Nazis would impose on a conquered Russia. There would be no come-back, he wrote,
Reprinted from Casey Research In this land of the free and home of the brave, a friend of mine wrote about an experience he had at the airport recently. Having taken his watch off to pass through the TSA scanner,
It’s easy and often entertaining to take potshots at leftist progressives who want the federal government to run health care (sorry Canadians), or at right-wing neoconservatives who want the federal government to run the world (sorry Americans). But the truly
In a previous post, I discussed the newfound interest in the United States’ depression of 1920-21 because of Jim Grant’s book. As I explained in my post, Grant is following in the tradition of several free-market writers (including me) who
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**UPDATE 2**: Our old friend Dan Simon of Euro Pacific Canada will be giving a special presentation! Don’t miss it! *UPDATE*: The event is now on Tuesday, January 27th! Ring in the new year with your liberty-loving friends from the
The basic unit of all economic activity is the un-coerced, free exchange of one economic good for another based upon the ordinally ranked subjective preferences of each party to the exchange. To achieve maximum satisfaction from the exchange each party
