Understanding the Real Costs of Slavery: It’s Not Cheap labor
The standard belief is that slavery was about obtaining “cheap labor,“ yet nothing could be further from the truth. Slavery comes with high opportunity costs, which is why American slave…
New “Engels” on Marx
It is understood that Marx’s theories stand entirely upon his Labor Theory of Value. If that theory is discredited, so is the scenario that leads to the inevitable triumph of…
Do Financial Markets Immediately Provide All Relevant Information?
The Perfect Market Hypothesis claims that all movements in the market can be considered as random, as market players and prices adjust immediately to new information. However, market players do…
Why the Family Is Not the Model for the State
Politicians have long claimed that states are like big families, and that political regimes rule in ways similar to how parents raise their families. This is nonsense.
Economically-Illiterate Policy Proposals Are Popular, And Economists Are to Blame
Many “mainstream” economists are bothered by the popularity of economically-flawed policy proposals like tariffs and price controls. It’s their own fault.
Against the Hamiltonian Statecraft
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Aaron Sobczak of the Quincy Institute for Responsible Statecraft.
What Does ChatGPT Know about Money?
What does ChatGPT know about money? More than one might think. George Ford Smith asks the AI program some questions about money and gets some surprising answers.
The Vampire Fiat Money System: How It Works and What It Means for Your Wealth
Governing elites believe that the fiat money system is the height of “sophisticated” finance. In reality, fiat money sucks the life out of the economy like a vampire.
China on the Edge of Recession
The last time China hit a recession, in 2008, Beijing dumped massive stimulus into the economy. This time, China’s debt — over $50 trillion — has grown to the point…
No, Russia is Not Losing the War in Ukraine: A Reply to Paul Schwennesen
Despite a recent claim in Reason by Paul Schwennesen that a briefly successful Ukrainian advance somehow translates into an ultimate Ukraine victory. The hard facts of the war tell us…