The workers were never enthusiastic about socialism. Socialism was brought to the masses by intellectuals of bourgeois background, dining and wining together in the luxurious London homes and country seats of late Victorian "society."
Steve Patterson challenges the standard Misesian-Rothbardian view of economics.
Socialism and capitalism offer radically different solutions to the problem posed by scarcity.
Efficiency is backward-looking and static, while value creation is future-oriented and aspirational.
The "Velocity of Money" Is a product of human choices and human values. It's not something we can just plug into an equation.
Where there is no business at all, business can be neither good nor bad. There may be starvation, and famine, but no depression in the sense in which this term is used in dealing with the problems of a market economy.
Jason Morgan reviews John Sagers' book on Shibusawa Eiichi, often called the "father of Japanese capitalism." Was Shibusawa truly a capitalist, or just a "crony capitalist"?
In much of America, the New Deal was run by a small number of very powerful political bosses.
Austrian economics diverges in several important ways from that followed by our colleagues in the mainstream of the profession.
People often flirt with the idea that we need a little bit of fascism — but only on the side of God and democracy.
