The counterrevolution against the classical liberalism of the nineteenth century has been at work for more than 150 years. In the 1840s, 1850s, and 1860s, the triumph of a philosophy of individual rights and liberty, impartial rule of law, ...
Giving up the reality, the nostalgia, or the dream of empire is very difficult for those in political power, and even for those citizens who have bought into their government’s indoctrination and propaganda.
Historically, empire-builders and political leaders often seem ...
Three hundred years ago, on June 5, 1723, one of the most important and influential thinkers in modern history, Adam Smith, was born in the small Scottish village of Kirkcaldy. There are few individuals who it can be said ...
The Washington political establishment, the social-media pundits, and the editorial pages of many newspapers have all been warning of a fiscal Armageddon if the national debt limit is not raised in the very near future. The danger, it is ...
The Congressional Budget Office’s (CBO) February 2023 report, Budget and Economic Outlook, 2023-2033, documents just how serious the fiscal dilemma is facing the United States. In a nutshell, the federal government’s debt is on a dangerous trajectory, future annual ...
The British economist Philip H. Wicksteed began his most important work, The Common Sense of Political Economy (1910), with a motto taken from the famous German poet Johann Wolfgang von Goethe (1749–1832): “We all live it, but few of ...
This year marks the 100th anniversaries of the great German and Austrian inflations that began with the coming of the First World War in 1914 and reached hyperinflationary severity following the war’s end in November 1918. While the German ...
Hayek: A Life, 1899–1950 by Bruce Caldwell and Hansjoerg Klausinger, (University of Chicago Press, 2022)
People who knew Friedrich A. Hayek before he won the Nobel Prize for Economics in 1974 sometimes said that he went through ...
It is probably not too much of an exaggeration to say that British economist Lionel Robbins (1898–1984) was one of the most influential economists of the last hundred years without most economists, nowadays, being aware of it. This is ...
The United States and most of the rest of the world are, once again, in the midst of an inflationary crisis. Prices in general are rising at annualized rates not experienced by, especially, the industrialized countries of North America ...
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