Does it matter whether assumptions in economics are arbitrary?
byVarious assumptions employed by mainstream economists appear to be of an arbitrary nature. The assumptions seem to be detached from the real world. For…
Potato Chips vs. Microchips: A False Dichotomy
byby Mary Lucia Darst It doesn’t make any difference whether a country makes computer chips or potato chips!” ~ attributed to Michael J. Boskin ~…
The Heat Death of the Economic Universe
byPhysicists say that the universe is expanding. However, they hotly debate (pun intended) if the rate of expansion is sufficient to overcome gravity—called escape…
Austrian Economics Centre Free Market Events
byLast week I had the pleasure of chairing a panel on the future of free trade for the Free Market Roadshow run by the…
Speech on Enlightenment Values
byTomorrow in Brussels I am giving a speech on the importance of enlightenment values. I believe this is the most important issue of our…
The Worst Man In Modern History
byIt seems extraordinary that in defiance of all factual history and philosophical knowledge anyone should celebrate the bicentenary of the birth of Karl Marx….
Karl Marx and Marxism at Two Hundred
byA specter continues to haunt the world, the specter of Karl Marx. Two hundred years ago, on May 5, 1818, the father of twentieth…
Wealth-Destroying Zombies
byThe hot topic in monetary economics today (hah, if it’s not an oxymoron to say these terms together!) is whither interest rates. The Fed…
Expectations and the Austrian Business Cycle Theory
byAccording to the Austrian Business Cycle Theory (ABCT) the artificial lowering of interest rates by the central bank leads to a misallocation of resources…
Is the US exporting a recession?
byThe Federal Reserve continue to raise rates as S&P earnings beat estimates The ECB and BoJ maintain QE Globally, corporations rely on US$ financing,…