December 2021

Competition is probably considered by everyone as an indispensable requirement for the proper economic functioning of a society. This is indeed justified because competition encourages producers of goods to look for the best ways of satisfying customers, for example by

Major representatives of the European Central Bank—including ECB president Christine Lagarde—continue to warn against bitcoin. In a recent article, addressed to the inflation-adverse German audience, the ECB representative Klaus Masuch together with the former ECB chief economist Otmar Issing has stressed five

The characteristic mark of this age of dictators, wars, and revolutions is its anti-capitalistic bias. Most governments and political parties are eager to restrict the sphere of private initiative and free enterprise. It is an almost unchallenged dogma that capitalism

Most emerging and developed market currencies have devalued significantly relative to the United States dollar in 2021 despite the Federal Reserve’s aggressive monetary policy. Furthermore, emerging economies that have benefitted from rising commodity prices have also seen their currencies weaken despite strong exports.

Across the pond, Poland and the European Union find themselves deadlocked over a question about judicial primacy. In early October, Poland’s Constitutional Tribunal sparked controversy when it ruled that EU law does not supersede national legislation. At stake in the EU-Poland legal

Introduction by Joseph T. Salerno Friedrich A. Hayek was only thirty-two years old when he published this two-part article in Economica, at the time, the world's leading English-language economics journal. The article is a review essay of John Maynard Keynes's two-volume

Critics of egalitarianism, meaning by that equality, or close to it, of income and wealth among the members of a society, often claim that it rests on envy. In response, defenders say that there are respectable reasons to favor equality.

HL Mencken is the writer you need to read immediately. He was savagely brilliant, caustic, and witty, but also prolific across genres in ways almost unthinkable of journalists today. His skill with the English language was virtually unmatched in the

Those who forget police debacles could be the victims of the next law enforcement fiasco. Former Montgomery County, Maryland, police chief Charles Moose passed away on Thanksgiving Day. He became famous as the most prominent law enforcement official during a

Time for Socialism: Dispatches from a World on Fire, 2016–2020By Thomas PikettyYale University Press, 2021352 pages Thomas Piketty has written a useful book. Readers need no longer plough their way through his vast Capital in the Twenty-First Century, not to mention