May 2021

For the entrepreneur in a market economy, nothing is a sure thing. Every business is only a short step from bankruptcy. No business possesses the power to make people buy what they do not want. All success is potentially fleeting. Original

Bob gives a guest lecture for Jonathan Newman’s MA course for the Mises Institute, on the history of, and new developments in, the pure time preference theory of interest. After summarizing the work of Bohm-Bawerk, Fetter, and MIses, Bob explains

Jeff Herbener is a Senior Fellow with the Mises Institute and an economics professor at Grove City College. At the 2021 Austrian Economics Research Conference, Jeff presented a defense of the pure time preference theory of interest, and mentioned Bob’s

Is Babbittry alive and well in twenty-first-century America? George F. Babbitt is novelist Sinclair Lewis's protagonist in the novel of the same name. Babbitt is a real estate man, which is to say a salesman, but the newfangled 1920s term is

“Inclusive and equitable economic growth” is how the Joe Biden administration envisions its recovery plan following massive job losses from the 2020 lockdowns. Taxpayers will have to pony up $1.8 trillion for childcare, paid and medical leave, as well as

Few people can be said to be the originator of a new science. Jim Spohrer is one of those rare beings. The science he originated is Service Science. You can read about the origination process at IBM Icons Of Progress

The US has millions of idle workers. In a normal economy this would put a damper on demand. But in our money-printing economy, consumer demand is surging even as production falls behind. An employment bubble is the result.  Original Article: "How

In a recent issue, Time Magazine boldly declared, “The Free Market Is Dead,” and then added: “What Will Replace It?” Of course, one always can expect Time to be disingenuous at best and dishonest at worst, and as an academic

[Chapter 19 of Rothbard's newly edited and released Conceived in Liberty, vol. 5, The New Republic: 1784–1791.] The most important battle of the August days of the Constitutional Convention was waged, as had been the battle over the three-fifths clause, between the North and

Do huge wealth redistribution schemes like Biden's new plan actually make people better off? Some people will get a net benefit. How how numerous are they? How many millions will take a net loss? The government has no idea. Original Article: