Michael Njoku

Articles

01/09/2025 Mises Wire Michael Njoku

For the bastions of libertarianism who uphold the validity of natural law and natural rights, it is always a matter of principle to categorically condemn violations of private property rights and...

How Child Labor Laws Violate the Rights of Minors

01/03/2025 Mises Wire Michael Njoku

A typical argument against the participation of young individuals in the labor market goes like this: Child labor deprives children of their childhood, their potential, and their dignity. It harms...

A Praxeological Critique of the Equation of Exchange and Neutrality of Money

12/27/2024 Mises Wire Michael Njoku

Economists have long sought to integrate the subject matter of money into the general theory of the market. Various monetary doctrines and theories have been formulated to achieve this aim. However...

Media

Prices Are Not Measurements of Value

01/02/2024 Michael Njoku

One of the fallacies of modern academic neoclassical economics is that we can take cardinal measures of value. Austrian economists, beginning with Carl Menger, know better.

Wealth and Income Inequality Are Essential for Social Cooperation

12/18/2024 Michael Njoku

Murray Rothbard wrote that egalitarianism is a “revolt against nature.” Progressives claim that inequality harms society and is morally unacceptable, but in reality, it is necessary for division of labor, which enables social cooperation.

Totalitarianism Begins with a Denial of Economics

12/15/2024 Michael Njoku

Totalitarianism is not compatible with a functioning economic system based upon free exchange and private property. Such regimes depend upon historicism and logical relativism.

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