On March 6, 2021, the streets of several Portuguese cities were adorned with communist flags and other decorations. These scenes looked like they were straight out of the Soviet Union or perhaps a present-day communist country. In reality, though, we’re talking about cities like Lisbon or Porto. But why is communism still a thing in Portugal?
By striking a balance between support and accountability, while respecting individual liberty and property rights, we can address climate anxiety in a way that promotes long-term resilience and responsible stewardship of our environment. Here are four broad suggestions:
Antitrust law will likely affect you personally, either targeting a company you patronize or even your employer. With big changes on the horizon for competition enforcement, here are five popular misconceptions surrounding antitrust…
Understanding that it is governments – not free markets – that create harmful monopolies is monumentally essential in order to harbor a comprehension of basic economic principles.
Ready to explore the fascinating world of Austrian economics? This article has got you covered! Whether you’re new to the subject or eager to learn more, we’ve handpicked five essential books just for you.
In honor of Milton Friedman’s birthday, let’s review the American economist’s greatest contributions to the advocacy of free market capitalism.
The history of money is a story of human ingenuity and economic evolution. From the early days of bartering to the unfortunate establishment of fiat currency to a future rippling with potential thanks to cryptocurrencies, the concept of money has endured a wild ride.
Tom Hogan has worked at the American Institute for Economic Research, the Cato Institute’s Center for Monetary and Financial Alternatives, and was Chief Economist for the U.S. Senate Committee on Banking, Housing, & Urban Affairs. Our Ethan Yang interviewed him and, in the process, Tom debunked 5 widely-held myths about fiscal and monetary policy. For […]
“Colonization is why Africa is so poor” is something I hear all the time. But it was not until recently that I realized: This impulsive defense of Africa is far from the full truth.
Certain forms of taxation are simply unjustifiable. One especially problematic example is the taxation of menstrual hygiene products, such as tampons. Here’s why the tampon tax is fundamentally regressive and must be scrapped…
In this first piece of a series addressing myths about the Soviet Union, we will focus on the issues of poverty, inequality, and quality of life…
The Chinese regime inherently rejects the ideas and values of individual liberty, meaningful economic freedom, transparency and human rights
In a world dominated by numbers and equations, one economist dared to challenge the status quo and unveil the true power of persuasive language. Meet Deirdre McCloskey, a visionary economist, historian, and writer whose groundbreaking ideas have reshaped the way we understand economic progress.
Each of his separate bodies of work would constitute a monumental achievement. Hayek did it all over the course of a single career that established him as one of the most important social thinkers of the 20th century.
Disasters, such as the horrific earthquake that hit Turkey and Syria in February 2023, bring up a recurring myth — one that demands the wisdom of Frederic Bastiat.
While Austrian economists have made great contributions in many subdisciplines of economics, their critiques of mainstream views of entrepreneurship have received arguably the most praise. Modern-day finance and entrepreneurship classes even use Austrian ideas dating back to Carl Menger’s Grundsätze der Volkswirtschaftslehre (Principles of Economics). But has Austrian Entrepreneurship Theory remained constant ever since?
Joseph Schumpeter (1883-1950) was an Austrian economist and political scientist. Born in what is now the Czech Republic, he studied at the University of Vienna, and his publications were closely tied to the Austrian school of Economics.
Do minimum wage laws help low-skilled workers? No. Workers are thrown out of work if they cannot produce more than the minimum wage stipulates. If the minimum wage is $15/hour and a worker can only produce $13/hour worth of goods, they will not be hired since no profit-seeking employer would employ someone at a loss.
Why are some countries successful while others aren’t? Is it down to natural resources, colonialism, or can it be better explained by something else?
Housing affordability has become a plague on Australia’s economy, and government policy here has ensured that no matter what happens, people — especially the least well off — will continue to get hurt. Let’s take a look at the reasons behind Australia’s housing crisis…
The law of supply and demand is often misunderstood and misconstrued, and it has downstream effects for our understanding of economics. In this video, Learn Liberty Basics establishes supply and demand as ever-changing RELATIONSHIPS, not constants. We also lay out some of the early history of our idea of supply and demand. CHAPTERS 0:00 […]
Using the Lincoln Park neighborhood of Chicago, discover the truth about the housing market. Expert Nolan Gray, California YIMBY Research Director and author of “Arbitrary Lines: How Zoning Broke the American City and How to Fix It,” guides us through the economics and incentives at play in the real estate industry. You might recognize him […]
In this video, Part 2 of 2, Professor Davies answers some of the web’s most-Googled questions about economics. While these questions might seem basic, the answers are anything but. In fact, they get to the heart of not only economics but also touch on philosophy, politics, and sociology. ️🔥 CHECK OUT PART 1 ️🔥 ️For […]
In this video, Part 1 of 2, Professor Davies answers some of the web’s most-Googled questions about economics. While these questions might seem basic, the answers are anything but. In fact, they get to the heart of not only economics but also touch on philosophy, politics, and sociology. Be sure to subscribe and ring the […]