Politics

While most of us are familiar with Gresham‘s Law, we should remember that it does not mean that bad money is preferred to good money. Instead, it refers to a situation in which government mandates that inferior and superior money legally have the same face value.

Long before there was Alan Greenspan to turn the Federal Reserve into Casino Central, there was John Law, France’s minister of finance.

There are numerous critics of the Austrian School of economics, but when their disparagements are closely examined, the so-called experts themselves are wrong. Austrians can do a better job of setting the record straight.

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.

In this review of Scott Horton’s book, Enough Already, we see that the wars the US has waged for the past quarter century in the Middle East have been a disaster. Millions of deaths and a massive refugee crisis later, the unmistakable verdict is in.

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.

David Gordon takes another look at Thomas Nagel’s Equality and Partiality. While he finds some of Nagel’s arguments appealing, they still are inferior to Murray Rothbard’s systematic interpretation of natural rights.

Post Content

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.