People sometimes ask me, “What is the most important concept in political economy?” The answer is easy, but subtle …
The economy can’t be assembled like a jigsaw puzzle, as Boris Yeltsin learned on a trip to America.
Here are some thoughts on the implications of Donald Trump assuming the presidency with respect to monetary policy.
The real minimum wage is zero, despite the best efforts of the economically illiterate public sector do-gooder.
We do not think it means what you think it means. There are a lot of polls about what millennials think about capitalism and socialism. According to these polls, millennials like socialism, but not capitalism. But what do they mean by capitalism and socialism? For reference, here are the definitions of capitalism and socialism according […]
Capitalism is frequently misrepresented on the news, on social media, and in numerous other places. These sources portray the big, evil company as the “dark side”, which is personified by a CEO. In contrast, the “mom and pop” small business owner is heroic – that is, until they become a “big player” and start “exploiting” […]
The argument no proponent of central planning has ever been able to overcome; if humans can’t be trusted with freedom, how can they be trusted with power?