If libertarianism wishes to give up modern political categories, it has to think about law in a different way. Murray N. Rothbard, the most important exponent of the radical libertarian school, is right when he rejects the historicism and relativism

Britain’s economy had been suffering chronic unemployment for a decade prior to 1936. Economic theory as it was then understood clearly showed that the cause of a market surplus was sellers asking a price in excess of what buyers are

Money supply growth slowed again in May, falling for the third month in a row, and to a 15-month low. That is,  money supply growth in the US has come down from its unprecedented levels, and if the current trend

Once a society embraces the division of labor, direct exchange becomes increasingly infeasible. Without money, specialization is constrained; without money, dreams of constructing an advanced society are merely a utopian pipe dream. At its core, money is the lubricant for

In the fall of 2016, I was a left communist. As I will show below, I came to this position after a circuitous tour through numerous sects of Marxism. A year later, I had thoroughly renounced Marxism and embraced the

Browsing through history, we can identify several examples of states overcoming the hurdles of geography to achieve great feats. Though the plague of an inhospitable geography is not an insurmountable obstacle to development, it remains crucial to understanding disparities in

Entrepreneurs seek to provide markets with new value through innovation wherever they can identify an opportunity. Their vision is broad enough to include free market institutions such as contracting, where they identify new and better ways to expand the mutuality