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 […]
The Great Depression is one of the most misunderstood periods in American history. Once you do a little digging, there’s more than meets the eye to this desperate time. Here are some of our top myths about the Great Depression:
If you went to high school in America, you were told a lot of things about the Great Depression. Those things were probably wrong. (And they were based on a poor or nonexistent understanding of economics.) Meet Prof. Davies in person! He will be at LibertyCon International in Miami on October 14-15. See the […]
The past couple of decades may have suggested that China’s competent, authoritarian style of governance may be an alternative model for the world. However, the regime is now faced with the consequences of its actions with a slim off ramp to preserve progress and power at the same time.
According to a survey from the American Farm Bureau Federation, the cost of an average 4th of July feast is up by 17 percent from 2021. Why is this?
Communism crippled the Soviet Union’s satellite states during the 20th century, but when the USSR fell, one country was quickest to move to capitalism: Poland. More than 30 years later, the results are in: Poland is outperforming its neighbors economically and socially. That much was evident in the way it has recovered from the global […]
Unfortunately, a free market is not something that appears overnight, so what do we say to those who do not have equal opportunities as things stand?
If you’ve ever visited Istanbul, you know it’s swarming with bald men. How, exactly, did Turkey become Bald Man Mecca? We answered that question: comparative advantage. And what is comparative advantage, you ask? And why has it led to Turkey’s revolutionary hair transplants? We put those questions to Adam Smith and David Ricardo, but they […]
What lessons can we learn about the importance of property rights from examples such as rental cars and Brazil’s favelas?
Despite the name, progressive economic policies actually end up having regressive effects. Let’s consider a couple of examples
In order to be able to address the root problems of inflation, we need to dispel some common myths. Here are our top five picks:
Reddit created an open, collaborative canvas where anyone can paint, but the only way to render a cohesive image is collaboration through spontaneous order.