Knowing that money or gold cannot be used to provide a fixed measure of value, David Ricardo turned to the value of labor instead. But his labor theory of value has led to many errors including Marxism, land taxes, and much more.
If you like debating Rothbard vs. Rand — or anarcho-capitalism vs. limited government — you’ll enjoy this interview with Michael Oliver.
Economics Nobel Prize winner Jean Tirole still clings to the old neoclassical model "perfect competition" and monopoly, writes Frank Shostak.
Tom Woods and Mateusz Machaj discuss the problem with John Taylor's rule for monetary policy.
Christopher Westley reports from this year's National Association of Business Economists Convention. He finds that the mainstream's intellectual blinders are firmly in place, and that the “fatal conceit” Friedrich Hayek wrote about in 1988 is alive and well in 2014.
Christopher Westley reports from this year’s National Association of Business Economists Convention.
How is socialism related to money? Money should be produced just like other goods through free markets. Central banks should not be controlling money, banking and credit.
