Individual Responsibility and the Pursuit of Meaning and Happiness in a Free Market

Despite the great abundance a relatively free market has brought to the world at least since the industrial revolution, there's no lack of critics who seek to overhaul and replace it with a more ideal system in light of their values and ideologies. The system we're living under encourages greed and numbs people to a … Continue reading Individual Responsibility and the Pursuit of Meaning and Happiness in a Free Market

Book Review | As We Go Marching: A Biting Indictment to the Coming of Domestic Fascism in America – John Flynn

In modern America, the terms "fascism" and "fascist" have come to take on a vague meaning to describe anyone whom one considers abhorrent or disagreeable, and any technical understanding of the terms appears now to almost exclusively be held by scholars in the fields of history, political philosophy, and economics. Not only has these terms … Continue reading Book Review | As We Go Marching: A Biting Indictment to the Coming of Domestic Fascism in America – John Flynn

Book Review | Capitalism in America: An Economic History of the United States – Alan Greenspan & Adrian Wooldridge

Given Alan Greenspan's notorious reputation among libertarians as a Randian free-marketeer who became corrupted during his time in the Federal Reserve and ended up being largely responsible for the easy money policy that contributed to the Great Recession, I was curious as to how he would characterize particular events in the economic history of the … Continue reading Book Review | Capitalism in America: An Economic History of the United States – Alan Greenspan & Adrian Wooldridge

Metrics vs People in Economic Analysis

Metrics are created to establish quantifiable ways to determine certain trends, be they positive, negative, or neutral. As far as the metrics appropriately signal what they're intended to represent, they may be quite useful to a certain extent, but unless one is conscious of their limitations, they can be "cheated" and accordingly become misleading indicators. … Continue reading Metrics vs People in Economic Analysis

Entrepreneurship in a Stateless Society

Given the State's far-reaching involvement in various aspects of our lives today, it's clear that the absence thereof would at least to some degree have led to an alteration of the social and economic arrangements presently characterizing our societies. Anarchists all agree that a stateless society would, generally speaking, turn out better than a Statist … Continue reading Entrepreneurship in a Stateless Society

The Epistemology of Mathematical Economics and the Austrian Critique

Table of Contents Introduction Reflections on Epistemology The Epistemology of Mathematics From Physics to Economics Economic Thought Before Econometrics The Origins of Econometrics William Petty Leon Walras Methodenstreite: The Austrians vs. the Prussian Historical School Caveats in Economic Statistics GDP CPI Other metrics Causation or Correlation? Are Economic Equations Really Necessary? What is the Purpose … Continue reading The Epistemology of Mathematical Economics and the Austrian Critique

Why Socialism Leads to Totalitarianism and Vice Versa

Despite the horrific experience with Socialism across the world throughout the 20th century, the doctrine still maintains plenty of followers and has been growing especially since the Great Recession. "It wasn't real Socialism," they proclaim. While the Statist Socialists, most of whom call themselves "Democratic Socialists", contend that their system could work as long as … Continue reading Why Socialism Leads to Totalitarianism and Vice Versa

On Criticising Private Businesses and the State

A common mischaracterization of the libertarian position is that it is either indifferent to or supportive of all kinds of unethical activities conducted by businesses and individuals in the private sphere. Although this appears to be more of an attempt to stigmatize libertarianism than to carefully assess it, it's true that its proponents exert far … Continue reading On Criticising Private Businesses and the State

Book Review: The Market Loves You | Jeffrey Tucker

As both a libertarian and a student of praxeology, I was somewhat perplexed from the title of Tucker's new book The Market Loves You. Only man acts, in the sense of utilizing means purposively to achieve certain objectives, as the praxeological axiom goes; the market as an aggregate of individuals cannot by itself act, and … Continue reading Book Review: The Market Loves You | Jeffrey Tucker

The State as a Business and Incentive Structure

During the millennia governments have existed, the core of their nature appears to hardly ever have been properly investigated or their legitimacy questioned. It's no rare phenomenon to see objections that the institution holds too much power at a given moment, or that it should not take on additional functions, but that's usually where the … Continue reading The State as a Business and Incentive Structure