Ludwig von Mises was an exceptional economist; one of the best in all of history. But, like all humans, he still made little mistakes occasionally. One of his mistakes is his dismissal of price levels or in other words statistics … Read More
Author: NT (Page 2 of 10)
Public schools are inherently bureaucratic. Anything run by the government will be managed bureaucratically and public schools are no exception. This becomes clear when one follows the money and consequently the source of authority. This is represented by the good … Read More
If you were transported back in time to the 1950’s, what would you miss the most? What would you miss the least? The 1950’s may not seem that far in the past, but life was still very different from today. … Read More
No individual alone is capable of producing cardboard boxes. This may seem like an outlandish claim, but it is not. As simple as a cardboard box may seem, there is still not one person capable of producing then by themselves. … Read More
Today, governments around the world enact many public works programs. They build parks, dams, bridges, carvings of politicians faces on the side of a mountain (Mt. Rushmore), or whatever they think will pass politically. The politicians always have their reasons … Read More
Who should control money? This is a crucial question, as money is the central economic institution in every economy. It is absolutely necessary to facilitate the modern division of labor. So who should have control over money? Should it be … Read More
The first blockbuster movie in American history was D.W. Griffith’s The Birth of a Nation. The movie made its first premiere in theaters in early 1915. It made $18 million in its first few years, which is equal to … Read More
In modern economics (the economics taught in public schools and universities) there is one fallacy that pervades almost all economic thought. That is the broken window fallacy. It was used and expanded upon extensively by economist Henry Hazlitt.
The fallacy … Read More
The Gettysburg address is one of the most famous speeches in American history. President Abraham Lincoln delivered it on November 19, 1863 at the dedication of the Soldiers’ National Cemetery in Gettysburg, Pennsylvania, during the American Civil War. It was … Read More
James Fenimore Cooper was a popular author of the 19th century. His most famous works are the Leather Stocking Tales, a series of 5 fiction novels. His novels were widely read in American as well as Europe. Mark Twain, another … Read More