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Rumor has it that the Federal Reserve was able to resist the president‘s demands to enable funding of the Korean War. However, a look...
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Herbert Spencer is best known for the term, “Social Darwinism,” but his writings on free markets and law remain brilliantly relevant today. While not...
The simple narrative today of the southern secession in 1860 and 1861 is that the southern states believed that the institution of slavery was...
Mark Thornton discusses a lesser-known factor in the American Civil War: the Confederate “impressment” policy and its impact at Vicksburg.
A free market economy does not generate jobs or money. Instead, it creates wealth through exchange and production. Government intervention, contrary to what mainstream...
William Nordhaus coined the term “Political Business Cycle” a half-century ago. The idea was that government authorities, particularly the central bank, would manipulate the...
The transatlantic slave trade from Africa is a well-known chapter in the history of slavery in the Western Hemisphere, but much lesser known is...
Mainstream economists define inflation as the increase in an imaginary “price level” that is relatively neutral in its effects. Austrian economists, however, know better,...
Ours in an age when people panic, sometimes for good reasons but often for bad. Governments benefit from panicked citizenry, which is why we...