Since Adam Smith, economic thinkers have failed to understand that profits in a market economy are not extractions of wealth from laborers. In truth, profits lead to higher wages and higher living standards for those workers.
Since Adam Smith, economic thinkers have failed to understand that profits in a market economy are not extractions of wealth from laborers. In truth, profits lead to higher wages and higher living standards for those workers.
Economic giant Robert Solow died in December 2023. He was a Nobel laureate, and four of his PhD students went on to also receive the Nobel. He is known for the growth model named in his honor.
The accusations against capitalism that we read not only from progressives but also conservatives are based upon fallacious thinking. It’s time to deal with these fallacies head on.
Henry Hazlitt, a great champion of liberty and Austrian economics, was born on November 28, 1894. His most famous book, Economics in One Lesson, remains a best seller thirty years after his death.
The accusations against capitalism that we read not only from progressives but also conservatives are based upon fallacious thinking. It’s time to deal with these fallacies head on.
Henry Hazlitt, a great champion of liberty and Austrian economics, was born on November 28, 1894. His most famous book, Economics in One Lesson, remains a best seller thirty years after his death.
Instead of the usual statist candidates, Argentine voters have elected a self-proclaimed Rothbardian who is calling for radical free-market changes in the nation's economy.
As war rages in the Middle East, we are reminded of what Mises wrote in 1949 on warfare and its awful effects.
Humanity progressed very slowly from the fall of the Roman Empire to almost the nineteenth century. Then came the Industrial Revolution, which changed everything.
