Karl Marx and Marxism at Two Hundred
A specter continues to haunt the world, the specter of Karl Marx. Two hundred years ago, on May 5, 1818, the father of twentieth…
Dr Richard M. Ebeling
Dr. Richard M. Ebeling is Professor of Economics at Northwood University
Reasons for Anti-Capitalism: Ignorance, Arrogance, and Envy
Why is the free enterprise or capitalist economic system so widely disliked, hated and opposed? Given the success of the competitive market economy to…
Mises the Man and His Monetary Policy Ideas Based on His “Lost Papers”
One day in 1927 Austrian economist, Ludwig von Mises, stood at the window of his office at the Vienna Chamber of Commerce, and looked…
Trump’s Protectionist Follies Threaten a Trade War
President Donald Trump has announced the planned imposition of a new, 25 percent tariff on imported steel and a 10 percent tariff on foreign…
Why Not Private Provision of Many Government Services?
One of the great controversies in modern society concerns the necessary and required functions of government. There are few who disagree that if government…
Public Goods, National Defense, and Central Planning
The competitive market economy is a powerful institutional mechanism for bringing human ingenuity, energy and creativity to bear to improve both the material and…
Capitalism and How Expectations Coordinate Markets
Open, competitive markets have a resilient capacity to successfully coordinate the actions of, now, billions of people around the world. With an amazing adaptability…
America’s Great Depression and Austrian Business Cycle Theory
When Murray Rothbard’s America’s Great Depression first appeared in print in 1963, the economics profession was still completely dominated by the Keynesian Revolution that began in…
Capitalism and Asymmetric Information
Capitalism is a wondrous human institution for the mutual betterment for all in society. Yet, critics often insist that market systems enable sellers to…
Capitalism and Competition
Market competition is at the heart of the capitalist system. It serves as the driving force for creative innovation, the mechanism by which market…