The political zeitgeist is to embrace protectionism, leading some who support free trade to embrace open borders. However, as Murray Rothbard explained, people and societies are complex entities and what may work for trade does not work for open immigration.
Many proponents of free markets have tried to cast aside the name “capitalism” as a descriptor of the market system. They should take caution before doing so.
One of the myths of Keynesian theory is that through monetary injections and government purchases, an economy can spend itself into prosperity. While such a scenario is economically impossible, most mainstream economists still believe it.
The concept of economic calculation is vitally important to understanding our modern economy, yet few people— and especially economists—fail to comprehend that it even exists.
The concept of economic calculation is vitally important to understanding our modern economy, yet few people— and especially economists—fail to comprehend that it even exists. Yet, without economic calculation we cannot understand the process of entrepreneurship.
As real wages decline and middle-class savings are depleted, the government expands its influence, garnering support from a substantial portion of the populace.
When passed in 1972, Title IX was hailed as a way to ensure women on college campuses received equal treatment to males. Today‘s Title IX is a bureaucratic nightmare, eviscerating due process of law and creating a tyrannical atmosphere on campus.