money

Where Does Money Come From?

– September 7, 2020

“Money makes possible an incredible amount of interpersonal coordination in the market. Rules of private property and contract, of various kinds, predate money. But widespread market integration and economic growth only result when there is a critical mass of people in a single commercial network linked by money.” ~ Alexander W. Salter

READ MORE
tesla

What Raised the S&P 500 Price-Earnings Ratio?

– September 7, 2020

“For those who find stock price gains inexplicable and therefore terrifying, the Yardeni-Reynolds Model offers a purely empirical explanation of a seemingly high trailing P/E ratio – extremely low global inflation and bond yields combined with an artificially low P/E denominator of past earnings that includes the terrible second quarter of 2020.” ~ Alan Reynolds

READ MORE
crown heart

Pathological and Parochial Altruism in the Age of Fear

– August 20, 2020

“A healthy altruism already resides in the concepts of liberty, free markets, free trade, and exchanges that are beneficial to each individual. If in the spirit of entrepreneurship, the defectors from the status quo, the disruptors and ingenious can rise up to challenge the “new normal” and break away from the cult of blind obedience and pathological altruism, then there is still hope.” ~ Lucio Saverio Eastman

READ MORE
female business executive

The Epistemic Value of Putting One’s Money Where One’s Mouth Is

– July 21, 2020

“Assertions such as that women as a group are underpaid – should be dismissed out of hand if (as is almost always the case) those who do the asserting refuse to risk their own time and resources on undertaking private-sector activities that would make these individuals rich as they simultaneously correct the alleged failures. If these individuals aren’t getting rich by acting with their own money on what they assert to be true, then they ain’t so smart after all.” ~ Donald J. Boudreaux

READ MORE
movie theater

Do We Really Need More Movie Sequels? If the Market Says So, Then Yes We Do

– July 16, 2020

“Studios make sequels because they expect them to be profitable. This is a good thing, though, because they are working to make Mickey and Minnie Moviegoer better off as Mickey and Minnie choose to define it according to their own preferences, values, goals, and opportunities.” ~ Art Carden

READ MORE
path, mountains

A Keynesian Path Would Be the Wrong Path for the U.S. Economy

– July 15, 2020

“Following a crisis, countries with higher levels of economic freedom–that is, with institutions closer to those proposed by Hayek than Keynes–suffered smaller economic contractions and faster recoveries. Keynesian ideas have dominated the political worldview for decades. But we would be better off following Hayek.” ~ Nicolás Cachanosky

READ MORE
tickets

How Much Should You Sell Your Vote For This November?

– July 15, 2020

“All that can be said for certain is that in most states it is now quite possible to do so and that the masked stranger does not even have to work for a political party or candidate. In fact, vote buying solves problems for donors by ensuring maximum effect for each dollar spent and by sidestepping campaign finance laws.” ~ Robert E. Wright

READ MORE

The Economy after COVID-19

– July 7, 2020

“One thing is certain: life in America is not going to be the same after COVID-19. Like the Great Depression and World War II, the pandemic will exert an impact for years, perhaps even decades, on the nation’s economic and political fortunes.” ~ James D. Gwartney

READ MORE
flag

Liberty Is the Theme of the American Spirit

– July 6, 2020

“However you may have enjoyed and celebrated the 4th of July in these unusual times, be sure to keep in mind that what that day is really all about is the hope and reality of free human beings in a free world based on the moving and profoundly moral ideals expressed in the Declaration of Independence: that individual liberty is natural, moral, and necessary if people are to find personal happiness and fulfillment, along with prosperity.” ~ Richard M. Ebeling

READ MORE
Jefferson Memorial

Ad Hominems Against Freedom

– July 1, 2020

“The avenue to a peaceful, prosperous and truly color-blind free society will not come about through a victory by the identity politics warriors and the ideological high priests of political correctness. It requires an appreciation and defense of the liberal principles of individual liberty, equality of rights before the law, and a vibrant, open, and competitive free market.” ~ Richard M. Ebeling

READ MORE
trees, prosperity

Free Markets are Lousy Self-Promoters

– June 29, 2020

“Precisely because free and innovative markets ceaselessly expand our range of opportunities, comparing the economic statistics of today with those of yesterday too often masks the improvements brought to us by markets. What appear to blinkered or incautious eyes to be market failures are often the fruits of market successes.” ~ Donald J. Boudreaux

READ MORE
capitol hill

Surrounded by Government Failure, Why Do People Still Believe?

– June 27, 2020

“We should continue fighting the battle of ideas because when we are deep into the mess that both parties, and their underlying ideologies, are creating, some people will look for answers and for solutions outside the state.” ~ Veronique de Rugy

READ MORE