Does a Fall in Credit Lead to Deflation?
"A fall in normal credit (i.e., credit that has an original lender) doesn't alter the money supply and hence has nothing to do with deflation."
Philosophy and Methodology
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Requiem for the Old Right
In a few brief years the character of the right wing had been totally transformed: Once basically classical liberal, it had become a global theocratic crusade.
How the Free Market Works
"Without the historical act of saving, which is now embodied in capital goods, there would be no economy at all."
A Note on Intellectual Property and Externalities
What counts in the market are the externalities that can be derived from intellectual property. How to deal with these externalities is, of course, a different matter.
Healthcare and Insurance on a Desert Island
"Some illnesses are not insurable without destroying the insurance system."
Risk, Uncertainty, and Economic Organization
"There is no market for the judgment that entrepreneurs rely on, and therefore exercising judgment requires the person with judgment to start a firm."
The Omelet Has No Rights
"Since the functional unit of all life and all action is the individual person, it is here that any sound concept of human rights must be anchored."
