Macroeconomic Monitor
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The Philosophy of Thomas Jefferson

Thomas Jefferson

Author: Murray Rothbard, Mises.org Follower of Jefferson or of Alexander Hamilton? Every student, indeed every literate person in the United States, is expected to choose a side and join one of the two camps of the Great Debate. Most people today consider themselves followers of Jefferson. Representatives of a variety of groups, …

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What actually is inflation?

Author: Frank Shostak, Mises.org According to many mainstream economists, the lack of a strong correlation between money supply growth and growth in various price indices casts doubt on the theory that increases in the money supply are the main source of inflation. It is also argued that before 1990 there was a positive correlation between …

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In defense of cash

cash

Author: William Luther - Assistant Professor of Economics at Kenyon College, Director of the American Institute for Economics Research's Sound Money Project, and Temporary Fellow at the Center for Monetary and Financial Alternatives at the Cato Institute. Shortly before November 2016, Indian Prime Minister Narendra Modi said in a speech that the 500-rupee notes ...

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The problem of corruption - what is it and how is it solved?

corruption

This text is a translation of the article “The problem of corruption” published on Mises.org more than 16 years ago. This translation is provoked by the unwillingness to accept the thesis that the quality of the state is solely a consequence of what the people in the country in question are like. This would, for me, …

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"The Broken Window" - the Most Common Economic Fallacy

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 …

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In Defense of Property (excerpt from David Friedman)

David Friedman

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 …

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The all-too-quickly forgotten victims of communism around the world

apologists for communism

Doug Bandow, Cato Institute, USA One of America's most significant actors and singers is Paul Robison, born a century ago. An impressive talent who fought against widespread racism, Robison seems to deserve the celebration of his centennial this month. Unfortunately, however, he also has a different, …

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Ten major economic myths

economic myths

The EKIP proudly presents a full translation of the fundamental essay “Ten Great Economic Myths” by the great American economist Murray Rothbard, which you can read and download here. Murray Rothbard is one of the greatest economists of the 20th century, a prominent representative of the Austrian School of Economics, and a founder of the modern libertarian movement in …

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Lenin on the devastation and poverty caused by communism in the early years of the USSR

Dear readers, EKIP presents to your attention a modern Bulgarian translation of "New Economic Policy" - a speech by Vladimir Ilyich Lenin, delivered before the second All-Russian Congress of Political Educators in the USSR in 1921 - a text from which we can learn a lot about the true nature of the communist socio-economic system and its catastrophic consequences, ...

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