The euro is an inflationary fiat currency, but it’s apparently not inflationary enough for many profligate European governments that want their own local currencies so they can inflate even more, and use easy money to temporarily cover up many economic sins.
Tom Woods’s book The Church and the Market revolutionized the economics debate among Catholics, and it explained how religion cannot replace economic science any more than it can replace physics. Understanding reality, and how to seek religious ends within it, depends on good science.
Business schools now often tell students that shareholders are socially irresponsible by seeking only profit and ignoring the “stakeholders in the community.” But in practice, owners must be respectful of many outside groups (such as employees and vendors), to be profitable.
In this re-imagining of the Gilbert and Sullivan tune "I Am the Very Model of a Modern Major-General," Julian Adorney explores the American presidency and the discouraging lack of variety among successful candidates.
Pope Francis's two major writings as pope are marked by a relentless pessimism and a world view in which human institutions such as markets are constantly making life worse and worse. This view, however, is not supported by the facts.
Charity serves an important and indispensable function in society: not everyone can engage in enough productive work to meet the daily needs of his or her family. But entrepreneurs and businesses have to create wealth before it can be given away.
Both Republicans and Democrats think they can tinker their way to creating an economy with less inequality. Both sides miss the point, and ignore the central role of government fiat money in the problem.
Many claim that great advances in technology come primarily through government spending on research. In fact, government tech spending crowds out other innovations while favoring certain interest groups at everyone else's expense.
The world's central banks have been pouring new money into the financial system, which has produced a dangerous amount of distortion to prices in the market. And what do we have to show for it? Economic growth is anemic, at best.
Opponents of secession and decentralization claim that secession is self-destructive because small states will find themselves defenseless in the face of military aggression. In fact, small states enjoy many advantages in wealth, flexibility, and decentralization that are lacking in larger, centralized states.
