Economics

The Cult of "Geniuses"

15.08.2018

In the world of "economic science" some "gods" appeared, which can be worshiped, but with whom one can not argue, who can not even be suspected of any mistakes and errors.

Economic Myths #10 – Taxes Benefit “Us”

09.08.2018

Whenever there is the appearance of some headline berating large corporations for arranging their affairs so as to pay as little tax as possible on profits earned in the UK, the indignation from the general public seems to centre on the belief tha

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.

USA - EU: trade war is canceled. For now

27.07.2018

During the talks that ended on Wednesday, US President Donald Trump and the head of the European Commission, Jean-Claude Juncker in Washington, the parties decided to postpone the large-scale trade war and try to negotiate to remove mutual claims

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