The starting point for any serious reflection on our subject is the fact that money production does not bring about uniform and simultaneous changes. An increasing money supply tends to entail a higher money price level, but the individual prices change at different points of time and each to a different extent (i.e., Cantillon effects).by
by Anton Toursinov
People suffering from mental disorders, vulgarly called “mad,” sometimes provoke smiles, or in the worst cases, discrimination and shame. Many of them are inoffensive, while some are secluded in psychiatric hospitals where they are supported and monitored away from society, in case they prove a danger to their families or other people.
And although the saying goes that “the wise man learns from the mistakes of others,” it perhaps seems that the people, those who take decisions in democracies, would rather play Russian roulette than learn from the mistakes of history.by
by Sydney Williams
For those of us in the mid-Atlantic and Northeast states, February seemed longer than twenty-eight days. March, which in three weeks will welcome spring, arrived just in time. Temperatures in the single digits, with piles of snow that while beautiful appear will never melt, defined our days and nights. The wind whistling across the river left drifts as high as the stockade fence that separates us from our neighbor.by
by Iain Martin
From outside the US it is easy to see the 2016 presidential election purely in terms of a dynastic clash between Hillary Clinton and Jeb Bush. Will Hillary overcome the concerns that she wants to win but cannot figure out what she wants to do with the office other than be President? Can Bill behave himself during the campaign? Is the likeable Jeb too tainted by association with his brother to win the Republican nomination even though the former Governor of Florida is raising a lot of money? Can Jeb’s advisors convince him to invest in some decent suits and ties that don’t look as though they were bought 10 years ago at Walmart?by
A triumph of “free expression and democratic principles”? How stupid do they think we are?
It’s been painful to watch the gradual tightening of government control in the name of net neutrality. The Federal Communications Commission’s decision to rewrite the rules and declare the Internet as a public utility seals the deal. It cartelizes the industry and turns a “Wild West” into a planned system of public management — or at least intends to.by
The cultural panic about the enormous commercial success of 50 Shades of Grey has gone on for years, and, from that, you might get the impression that the story romanticizes unspeakable things.
Though I’ve not read the book, my impression from the movie was entirely opposite. It is not a hymn to the secret glories of BDSM. It is a sophisticated allegory that takes apart, and ultimately condemns in the strongest terms, the psychological foundations of seemingly consensual human relationships that are actually based on dependency, abuse, and power.by
This year’s Valentine’s Day was disastrous — not just for me, but for many ex-couples. But as I sat there on Sunday nursing my broken heart, I realized what’s wrong with romance today: not enough regulation.
The United States government has wisely chosen to regulate most other aspects of life, from what wage you are allowed to work for to what medicines a patient is allowed to buy over the counter.by
by John Cochran
There is a sliver of good news on the central banking front. Given the Fed’s poor performance before and after the 2007–08 financial crisis and Great Recession, and its now recognized 100 year history of failure, at least some members of Congress, even without Ron Paul, are now willing to consider major reform.
Many libertarians who recognize that the correct long-run reform is to “End the Fed” — or essentially eliminate central banking (see here or here) — have focused most on the Audit the Fed Bill.by
Just about everyone agrees that incentives affect behavior, but economists really mean it. That’s because economists take the logic of incentives further than most other people are willing to. Such analysis often reveals that government policies have unintended consequences that seem shocking to the average person. The list includes welfare programs that lead to higher rates of birth out of wedlock, seatbelt laws that lead to more pedestrian deaths, and even the possibility of changes in estate taxation that lead to people strategically timing their deaths.by
When Leonard Read founded the Foundation for Economic Education in 1946, he did not intend to create an overtly political movement with particular political goals. He wanted something deeper, more lasting, and more culturally profound. He sought to inspire a love of liberty in all groups of society. Only this, he said, would create the basis of a lasting freedom that could resist despotism over time.
That dream has been gradually building for nearly 70 years, and today we have the opportunity to gain a glimpse of what it looks like and what it means for our future.by