Money of the American Constitution
byThe US dollar is not what most people think it is. There are a constitutional dollar (C$) and a Federal Reserve dollar (F$). The…
How the world really works
by“The central banks did their job. Unfortunately, almost nobody else has done theirs.” “You’re not only wrong. You’re wrong at the top of your…
Marginal utility theory the Austrian School versus the mainstream
byBy Dr Frank Shostak Why do individuals value bread less than gold, when bread seems to be more important in supporting an individuals’ life…
The Price of Cheap Fuel
byHow diesel subsidies left Potosí choking on its own transport system By Elias Sánchez Stepping out of Potosí’s new bus terminal—gateway to one of…
Heart of Glass
by“The real problem of humanity is the following: we have paleolithic emotions; medieval institutions; and god-like technology. And it is terrifically dangerous, and it…
Ludwig von Mises on Reducing the Size and Scope of Government
byThe world seems to be moving at an accelerated rate in a more collectivist direction. The potential trade wars set in motion by Donald…
Milton Friedman’s guitar string boom-bust cycle theory
byBy Dr Frank Shostak It is popular in economics to employ metaphors in orders to provide support to a particular idea. For instance, some…
Green Markets, Not Green Leviathans
byHow bottom-up rules and private property can protect the environment better than distant bureaucracies By Elias Sanchez While travelling through the Bolivian Amazon, I…
No Matter Who Is President, Don’t Trust Government Data
byby Connor O’Keeffe President Trump caused a stir last Friday after he fired the head of the Bureau of Labor Statistics (BLS) hours after…
Trade-Offs in Trump’s Trade Policy
byby Michael Froman One of the hardest jobs of a policymaker is to weigh trade-offs. Few policies are clean, absolute, and without costs. The…