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Reading Jonathan Culbreath’s “Modern Monetary Theory for Conservatives” one can’t help but think of Murray Rothbard’s quip that “it is not a crime to be ignorant of economics … but it is totally irresponsible to have a loud and vociferous opinion

[Originally published April 4, 2006, at LewRockwell.com] "You would spare these criminals, for some mysterious reason. I would hang them higher than Haman, for reasons of quite obvious justice; still more, still higher, for the sake of historical science."1 Thus ends a

In 1966, famed Chicago School economist Milton Friedman wrote a hugely influential essay on the methodology of economics entitled "The Methodology of Positive Economics" (contained in the volume Essays in Positive Economics). In distinguishing economics as a “positive science”, Friedman