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When Murray Rothbard’s America’s Great Depression first appeared in print in 1963, the economics profession was still completely dominated by the Keynesian Revolution that began in the 1930s. Rothbard, instead, employed the “Austrian” approach to money and the business ...
The former president of Yemen, Ali Abdullah Saleh, was reported killed in the capital of Sana’a, on December 4, 2017, when he seemingly was changing sides in the on-going and brutal civil war in that country. I actually met ...
Capitalism is a wondrous human institution for the mutual betterment for all in society. Yet, critics often insist that market systems enable sellers to take advantage of buyers, because those on the demand-side often lack the specialized knowledge that ...
Numerous misunderstanding and mythologies surround the meaning of capitalism and competition, but few match the confusions over the meaning and relevance of “monopoly” in the workings of the market economy. When looked at dispassionately, factually, and historically, monopoly has ...
This time of the year, whether in good economic times or bad, is when Americans gather with their families and friends and enjoy a Thanksgiving meal together. It marks a remembrance of those early Pilgrim Fathers who crossed the ...
Market competition is at the heart of the capitalist system. It serves as the driving force for creative innovation, the mechanism by which market supplies and demands are brought into coordinated balance for multitudes of goods, and an institutional ...
November 7,, 2017, marks the one hundredth anniversary of the Russian (or Bolshevik) Revolution in Russia that happened on that date in November 1917, which lead to the communist “dictatorship of the proletariat” and ushered in an epoch of ...
Part 1 | Part 2
The free enterprise, or capitalist, system has done more to improve the material condition of humanity than any other economic arrangement of human cooperation in all of recorded history. Yet, “capitalism” constantly ...
Part 1 | Part 2
One of the leading ideological punching bags for well over one hundred years has been the ideas, institutions, and impact of “capitalism” on society. Think of something someone does not like in ...
In modern democracies, political cycles never end. As soon as one election is over, those in government office or aspiring to such an office are already running for the next election. Having recently attended a public forum of state-level ...