Economy
This posting is Part V in a series of postings about economic thoughts. This posting contains excerpts from the Introduction of Nobel Laureate Milton Friedman’s 1962 classic book, Capitalism & Freedom in which he begins a discussion about the relationship between economic freedom and political freedom: …The free man will ask neither what his country…
This posting is Part V in a series of postings about economic thoughts. This posting contains excerpts from the Introduction of Nobel Laureate Milton Friedman’s 1962 classic book, Capitalism & Freedom in which he begins a discussion about the relationship between economic freedom and political freedom: …The free man will ask neither what his country…
This posting is Part IV in a series of postings about economic thoughts. This posting contains excerpts from a January 2005 Reason magazine article, entitled Hayek for the 21st Century, which discusses biographer Bruce Caldwell’s thoughts on Nobel Laureate Friedrich Hayek’s ideas regarding: (i) the abuse of reason; (ii) fallacies and dangers of centralized planning;…
This posting is Part III in a series of postings about economic thoughts. The excerpts in this posting are taken from Chapter 24, entitled Parting Thoughts, in Thomas Sowell’s book Basic Economics: A Citizens Guide to the Economy and discuss: (i) why policy goals are trumped by incentives they create; and, (ii) the role of…
This posting is Part III in a series of postings about economic thoughts. The excerpts in this posting are taken from Chapter 24, entitled Parting Thoughts, in Thomas Sowell’s book Basic Economics: A Citizens Guide to the Economy and discuss: (i) why policy goals are trumped by incentives they create; and, (ii) the role of…
This posting is Part II in a series of postings about economic thoughts. The excerpts in this posting are taken from Chapter 23 in Thomas Sowell’s book Basic Economics: A Citizens Guide to the Economy and discuss myths about markets, including: (i) morality and markets; (ii) prices; (iii) the role of profits; (iv) non-profit organizations;…
This posting is Part II in a series of postings about economic thoughts. The excerpts in this posting are taken from Chapter 23 in Thomas Sowell’s book Basic Economics: A Citizens Guide to the Economy and discuss myths about markets, including: (i) morality and markets; (ii) prices; (iii) the role of profits; (iv) non-profit organizations;…
This posting is Part I in a series of postings about economic thoughts. The excerpts in this posting are taken from Thomas Sowell’s book Basic Economics: A Citizens Guide to the Economy and define what is economics. Chapter 1: What is Economics? Virtually everyone agrees on the importance of economics, but there is far less…
This posting is Part I in a series of postings about economic thoughts. The excerpts in this posting are taken from Thomas Sowell’s book Basic Economics: A Citizens Guide to the Economy and define what is economics. Chapter 1: What is Economics? Virtually everyone agrees on the importance of economics, but there is far less…
There are still many people who persist in propagating the myth that the Great Depression represented a failure of the capitalist system that could only be solved by active government intervention in the economy. Like all myths, the empirical data does not support that belief even as the belief has continued to reside in the…
