The IMF and Moral Hazard
The underpricing of risk led Icelandic banks to take on liabilities denominated in foreign currency.
Other Schools of Thought
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David Frum’s Cognitive Dissonance
David Frum recently accused modern Hayekians of not having a policy response to the recent economic crisis.
The Political Doctrine of Statism
There is always some great excuse for the trashing of the human freedom that built civilization as we know it. If the state cannot find one, it is glad to invent one. A population that is ideologically gullible or afraid for its security will permit government to run roughshod over rights and liberties.
What Is Money?
A man would die of hunger who, having decided that money is real wealth, should carry out the idea to the end, writes Frédéric Bastiat (1801–1850).
Out of Business
The last few years as an executive in a manufacturing company gave me a frighteningly close look at the inner workings of regulators in our government. Maybe I'm just naïve, but what I discovered was shocking. They are not "creating jobs" or "improving the economy" — precisely the opposite.
The World According to de Jasay
In any given context, the state is either unnecessary or impossible.
The Police State Is Personal
Previously untouchable aspects of life are subjected to dictate. Even travel, formerly a right, is now a privilege granted by government agents at their whim.
The Sources of New Deal Regime Uncertainty
The Roosevelt administration proposed and Congress enacted an unparalleled outpouring of laws that significantly attenuated private-property rights.
The Good Krugman
Throughout Pop Internationalism, Paul Krugman makes a great case for how free trade and the global economy raise the living standards for everyone.
The Economics of Abundance
The increasing concentration on short-run effects is not only as a serious and dangerous intellectual error; it is a betrayal of the main duty of the economist and a grave menace to our civilization.
