Why Luxury Goods Make Everyone Better Off
byRyan McMaken Listen to Ryan McMaken’s commentary on the Radio Rothbard podcast. One of the more persistent myths about capitalism is that wealth and resources…
Statistical analyses and facts of reality
byAccording to modern economics, various ideas that we have established about the world of economics emanates from historical data. By inspecting the data, an…
How Gibson’s paradox has been buried
byUntil the 1970s, all recorded history showed that bond yields were tied to the general price level, not the rate of price inflation as…
ADAM SMITH AND THE MAKING OF MODERN ECONOMICS
by(This paper is an expanded version of the first Adam Smith Lecture presented on September 24, 2018, at the Panmure House, Edinburgh, Scotland, sponsored…
The Credit Cycle Is On The Turn
byWe are on the verge of moving into an era of high interest rates, so markets will behave differently from any time since the…
Is technical knowledge the key driver of economic growth?
byAccording to this year Nobel Prize winner in economics, Paul Romer, the technical knowledge that spills over into the creation of new products…
LvMI produces book on Austrian School with many contributors – published by Springer
byI wrote a chapter on business cycle theory – there are some terrific economists, including Prof. Gunther Schnabl, with whom I gave a seminar…
Mont Pelerin Society General Meeting
byCobden Centre directors Daniel Hannan and Max Rangeley attended the Mont Pelerin Society general meeting last week in Gran Canaria. Dan spoke…
Economic Thought in Ancient Greece
byThe intellectual odyssey that laid the foundations for Western civilization began in classical Greece. Unfortunately, Greek thinkers failed in their attempt to grasp the…
We should ditch GDP as a measure of economic activity
byThis article exposes the false economic concepts behind GDP, which is only the visible tip of a large iceberg of economic deceit. Describing an…