One of the myths of protectionism is that it will result in an abundance of goods on the home front. Shortages are no abundance.
Few economists—even the free-market advocates—understand what caused the Great Depression. No, the Fed didn’t cause the Depression by failing to inflate the currency. Instead, it was the...
As Murray Rothbard has noted, there is an important distinction between nation and state. The former is a voluntary association of people while the latter is coercive...
It is during “emergencies” when we learn who really holds political power, and how ineffective are constitutional measures designed to limit the regime.
Many economic think tanks espouse that national defense spending benefits Americans at large. It doesn’t. The notion that military spending “bolsters” the economy is yet another Keynesian...
Many of the high-flying businesses that received massive publicity turned out to be the creation of a bubble economy. Not all businesses are flashes in a pan;...
Paul Krugman claims that the real factor determining inflation is the rate of unemployment, not increases in the supply of money. As usual, he is wrong.
Governments in the US subsidize immigration through a bevy of welfare programs. The effect of subsidization is predictable: you get more of what you subsidize. This is...
While modern India is known for adopting socialism in the 1940s, it has an older tradition of free markets. It is time to rediscover that tradition.