Economic theory

Everything is shaped by the business plan of the big guys... We all remember the case of the fired Google employee who dared to state basic biological differences between men and women and how they translate into socio-behavioral differences. This act of his did not please his superiors, who did not want to …

The big economic problem the world faces is linguistic semantics. The word “regulation” is now understood to mean “government regulation.” We are unaware of the alternative: consumer regulation. This is a problem because we accept so much government intervention, when in fact we would be better off without it. We demand some kind of regulation with …

It is often observed that incompetent economists are better at spreading their errors among the public than competent economists are at spreading the truth. The reason for this is that bad economists actually introduce people to half-truths. They only talk about the short-term effects that a given policy would have on a specific group of people. To solve this problem …

Richard N. Lorenz, FEE When I tell someone that I work at the Foundation for Economic Education, I often get the question back: “What are the economic ideas that people need to understand?” At FEE, we’ve been thinking about this question a lot in our articles, coursework, seminars, and videos. We’re generally …

Author: David Friedman, translation of an excerpt from "The Machinery of Freedom" The concept of property is of fundamental importance to our society and probably to any functional society. On an operational level, it is understandable to any child over the age of three. On an intellectual level, however, almost no one …

Undoubtedly the most well-known and widely used indicator of macroeconomic performance is gross domestic product. Like many other historical events, it is difficult to determine who and when began measuring national income. Interest in accounting at the national level emerged in the nineteenth century and, more specifically, the rapid economic growth during …

/Part 1 – The Free Market/ Throughout human history, politicians, philosophers and economists from all over the world have been searching for a formula for government that would make people richer. Historically, countless different approaches have been tried. Empirically, however, it has been proven that only those political ideologies and economic theories that promote the philosophy …

Evgeni Dainov, one of the most famous public intellectuals in Bulgaria, published an article a few days ago about the "economists". A text in which he criticizes at length what he describes as the "economic" way of thinking. As someone who considers himself an economist, I was of course intrigued, but unfortunately I was left extremely disappointed...

There comes a time in every person's life when he or she must decide for themselves which values will be the compass by which they will choose their direction of movement. Inevitably, this also applies to larger organisms, and here let my analogy abruptly shift to companies and countries. Lately, many different …

Ludwig von Mises, original title in English: "Lord Keynes and Say's law" I Lord Keynes's main contribution to economic thought lies not in the development of new ideas, but in the "escape from the old", as he declares at the end of the preface to his "General Theory". Keynesians tell us that his famous ...