Even the most conscientious bureaucrat, and there are many, cannot achieve efficient results. How does he know what is best for individual members of society?
If one looks at the catastrophic consequences of the great paper-money inflations, one must admit that the expensiveness of gold production is the minor evil.
Everywhere, the government's desire to be generous to the poor is destroying the positive incentives to work and to save that are so necessary for a well-functioning economy.
American patients are not homogeneous mannequins smoothly distributed over one or two physical variables along a bell curve or any other type of graph. Each individual consumer is unique.
Capital is not some mass that can be modified free form. If an entrepreneur wants to change the current structure of capital, he will wield dynamite and dozer, not water and wheel.
The true promoters of peace need attention, for they will never likely receive such ostentatious recognition for their noble efforts. They take risks in a world of uncertainty, and save or borrow c...
The true magic of Halloween is the transforming effect of free exchange, the chance to derive mutual benefit from the difference in tastes between individuals.
It is not a fall in credit as such that is the key to deflation, but a fall specifically in credit created out of thin air. It is this type of credit that causes the decline in money supply, i.e., ...
Some groups are losing a lot of money right now. The current news regarding the commercial-real-estate market in New York City is an indicator of the big-city result of "irrational exuberance" in c...
Common sense and a few basic concepts can guide most people through economic issues. One small step of reason on the minimum-wage issue could be a giant leap for all mankind.
The age between the 8th and 16th centuries was a time of amazing advance in every area of knowledge, such as architecture, music, biology, mathematics, astronomy, industry, and - yes - economics. ...
India's obsession with gold is well known around the world. To most Western commentators, this obsession seems irrational, and Indian people seem like incurable gold bugs.
A healthy recovery this year, and even more a healthy economy in the future, cannot be measured simply on the basis of jobs figures, because not all jobs produce wealth.
The problems of the American healthcare system are caused entirely by the fact that the government subjects the system to massive interventions, some of which are fascist in nature, while others ar...
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