economy

Economic Myths #12 – The Deflation Danger

22.08.2018

Politicians and mainstream economists are persistent in their warning of the so-called “deflation danger” – the idea that falling prices are calamitous for economic progress and that a perpetual, ceaseless price inflation is needed in order to bri

Economic Myths #9 – Social Safety Nets

02.08.2018

It is often trumpeted as a virtue that “civilised”, social democratic countries offer their citizens one or more types of “social safety net” in an attempt to eliminate the most dire effects of, say, unemployment, illness or some other kind of inc

TACKLING TAXES FOR ECONOMIC PROSPERITY

31.07.2018

While it is wonderful that liberty brings with it heightened economic progress in the form of material increases in the standard of living, libertarians recognise that these ends do not justify the means. For example, if it could be demonstrated that murdering red heads would add a few percentage points to GDP we would still regard such acts as evil; the ability of everyone else to buy a few more pairs of shoes would do nothing to change this fact. Therefore, while leaps and bounds in the standard of living certainly add moral weight to the case for a free society they fail to add moral decisiveness.

ECONOMIC MYTHS #8 – CAPITALISM IS EXPLOITATIVE

25.07.2018

The myth that capitalism is exploitative – or rather, that capitalists and entrepreneurs are responsible for the exploitation of both workers and consumers – is almost as old as the history of this political-economic system itself, having been a p

ON BUSINESS AND THE ECONOMY

19.03.2018

Business – honest business, that is – is beautiful. For it isn’t just being busy; it’s being busy with a purpose. And that purpose is to create well-being.