Russophobia, Historically Considered

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Peace as a Prerequisite for Civilization

While men like Murray Rothbard and Ludwig von Mises believed in “just” war, nonetheless, they did not believe that wars lead to

Why the Money Supply Is Growing Again

In August, the money supply grew at the fastest rate in 23 months.

Why People Pay Higher Prices for Some Goods Relative to Others

One of the important points made by Carl Menger in his 1871 Principles is that people ordinally rank their preferences, valuing some

Why People Pay Higher Prices for Some Goods Relative to Others

One of the important points made by Carl Menger in his 1871 Principles is that people ordinally rank their preferences, valuing some

The Birth of “Irrational Exuberance”

Long before there was Alan Greenspan to turn the Federal Reserve into Casino Central, there was John Law, France's minister of finance

Yes, Car Seat Laws Reduce the Birth Rate

Thanks to increasingly broad car-seat laws, a third child often requires the purchase of a larger, more expensive vehicle. At the margins,

What is Old School Economics?

When people speak of “old school economics,” they generally mean the application of economic thinking that involves what we might call “common