Carl Menger wrote, “All things are subject to the law of cause and effect.” Unfortunately, modern academic economists all too often confuse correlation of economic phenomena with causality.
Category:
World News
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Lower income countries like the D.R. often face much higher relative costs than rich countries when it comes to dealing with waves of migrants.
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US airstrikes on Yemen killed 95 civilians and injured 192 last week. Very little US trade requires the Suez Canal, so this is about subsidizing the State of Israel.
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Trump’s trade war is so successful that he’s planning to bail out the farmers who will suffer under the trade war.
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62% think tariffs will be a net liability in the long run. Even more think it will be costly in the short run. They’re right because tariff hikes are just…
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Profits aren’t immoral—they’re necessary. Just as organisms need a net energy surplus to live, societies need profits to sustain themselves.
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The welfare state is supposed to signal the existence of the “compassionate” society that provides care for all. However, this “compassion” has resulted in the proliferation of social pathologies that…
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Why do mainstream economists suddenly think clearly when it comes to tariffs—but abandon logic elsewhere? Mark Thornton unpacks why even Krugman and Marx agree with Austrians on free trade.
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People claim to support “equal opportunity” over the idea of equal outcomes, but when one examines both concepts, it becomes obvious that neither is possible or even desirable. Murray Rothbard…
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This is a rendition of Leonard Read‘s famous, “I, Pencil,” but with a new twist: tariffs now restrict the importation of producers‘ goods needed to make the pencil, which means…