One of the important points made by Carl Menger in his 1871 Principles is that people ordinally rank their preferences, valuing some things more than others. While this seems to be a common-sense principle, it actually has important implications for economic theory.
Kamala Harris claims that she simply wants food prices to be lower. However, her de facto price fixing scheme would create food shortages and raise the real price of food. Of course, when that happens, Harris simply will blame capitalism.
Had Republicans not vastly expanded federal criminal law during the infamous Wall Street prosecutions 40 years ago, lawfare would not have become such a potent political weapon.
Modern academic economics is based upon the methodologies used to study the natural sciences. However, such methodologies are inappropriate to study economics, which must be based upon causal-realism.
James A. Dorn In the history of economic thought, it is often found that what at first appears as a new idea can often be traced back to earlier work, which was lost sight of. Such is the case with Benjamin M. Anderson’s article, “Capitalism versus Socialism
Andy Craig “…in Case of Disagreement between [the House and Senate], with Respect to the Time of Adjournment, [the President] may adjourn them to such Time as he shall think proper.” — Article II, Section 3 The presidential power of adjourning Congress has never been used. There
With the election of Donald Trump, we are seeing repeated use of another F-word to describe the direction America is going: fascist. But is that what is happening in the US, or is the term fascist being thrown about in blind ignorance? These accusations need
As Joseph Schumpeter noted, markets need “creative destruction” to survive and advance. However, Europe‘s Digital Market Act (DMA)—while written to ostensibly protect competition—gives the digital economy uncreative destruction.