Ask most people why our economy is advanced, and they will likely will answer, “Technology.” Yet, technical knowledge is meaningless without capital development, and capital development is impossible without real savings.
The Ukraine war rages on and while the media and political classes repeat the “Putin started it” mantra, the evidence points elsewhere. The US government and its European allies have provoked Russia for years, hoping it would lead to an outbreak of war.
Contra Marx, the laws of economics are immutable and are the same no matter what historical epoch exists. Economies cannot flourish unless market prices, private property rights, and profits and losses are unhampered.
Mustafa Akyol The British Catholic magazine The Tablet just ran an eloquent review of my new book, The Islamic Moses: How the Prophet Inspired Jews and Muslims to Flourish Together and Change the World. Penned by Bruce Clark, the longtime religion reporter for The Economist, and titled
Jeffrey Miron Does a government definition of property rights promote economic progress? A recent paper suggests yes: Cadastres—records of landownership—provide governments with the information necessary to tax and clarify ownership, making transactions more efficient. Cadastres underpin the security of ownership and enable land and credit markets to
Clark Packard and Scott Lincicome
In the wake of two major hurricanes and the calls for federal intervention, we repost Vedran Vuk's classic 2006 article that detailed how by "doing its job," FEMA blocked economic recovery in New Orleans after the Hurricane Katrine disaster.
Chris Edwards Hurricanes Helene and Milton have now passed, leaving trails of destruction. Some politicians are using the disasters as a political football, focusing particularly on the funding of the Federal Emergency Management Agency (FEMA). But the debate over FEMA is somewhat misplaced. FEMA is the lead
To rid ourselves of the state, we need institutions that can replace it. This is why the state always works to destroy competitors like families, churches, and private schools.