Can Econometric Models Provide a Laboratory Setting for Economic Analysis?
Econometric models are constructed with the idea that they can be substituted for authentic human action. Not surprisingly, they fail badly.
Econometric models are constructed with the idea that they can be substituted for authentic human action. Not surprisingly, they fail badly.
Not only is Washington in political turmoil, but the policies emanating from the Beltway are more incoherent than ever.
Since the original sugar tariff of 1789, US government policy has been to subsidize sugar, a policy that has led to serious consequences, including a health crisis of obesity.
Sen. Elizabeth Warren is at it again: demanding government intervention in the nation's healthcare system to deal with problems caused by earlier government intervention.
Critics of college legacy admissions claim that the practice is racist and admits undeserving students. The longer-term results of such admissions show why colleges continue to employ them.
Is cryptocurrency a scam or is it a legitimate alternative to state-corrupted money? Political elites want to eliminate it altogether, but that alone should tell us we need to better understand this alternative money source.
Philip Goff wants to solve the why of the universe, but his answers are not always logically coherent, as David Gordon explains.
In the past two decades, the TSA has proven it is ineffective in providing real security for airline passengers. However, its growing incompetence is matched only by its increasing intrusion into travelers' lives.
Progressives claim that perhaps individual freedom might be appropriate for a simpler society but that as society grows more complex, the need for government grows. As Leonard Read pointed out, however, greater complexity requires greater freedom, not less.
Mark explains why the recent "all-time highs"—even "new highs"—are an ambiguous signal about the future.
Mainstream economists turned climate warriors use cost-of-production methods to determine the “true” social cost of carbon. They appeal to a discredited methodology falsely attributed to medieval Scholastics.
The US Government will face another round of federal debt expansion in 2024, but will there be enough creditors to allow their continued spending?
According to a Brown University professor, ExxonMobil threatens our democratic republic by purchasing another company. The totalitarian woke atmosphere in American higher education is the real threat.
While the Fed tries to engineer the mythical “soft landing” for the economy, Austrian economists know that this is an exercise in futility. Once the credit-fueled boom occurs, the bust logically follows.
Ryan and Benjamin Seevers examine the reasoning behind efforts to destroy Americans' right to sell land to foreign nationals, especially the Chinese.
Ten years ago, I discovered the Mises Institute. This is the advice I wish I could send back to my younger self.
Advocates of unbacked paper money claim that theirs is the “civilized” choice, as opposed to gold, or what Keynes called “that barbarous relic.” These inflationists, however, are the ones wrecking civilization as we have known it.
As this author previously has noted, the ideology of statism is responsible for much of the violence that plagues the world. We see this played out in Israel's aggressive retaliatory attacks in Gaza in response to the October 7 killings by Hamas.
Forget the other mainstream explanations for interest. Time preference explains this phenomenon and gives a true picture of why interest exists in the first place.
Data on employed persons, wages, and other measures point to trouble ahead in an economy already strained by growing bankruptcies, mounting debts, and disappearing savings.