Economist James M. Buchanan Dies

The great economist James M. Buchanan died yesterday. He was truly a great thinker. You can read about his importance by comments from Robert Higgs and and Tom Dilorenzo.

Here are some excerpts from Cato that discuss the importance of his work.

Nobel Prize-winning economist James M. Buchanan died on Wednesday at the age of [...]


The Unadulterated Gold Standard Part I*

*It turns out that we did not publish Part 1 of Keith’s article on “The Unadulterated Gold Standard”. So apologies to readers who read Part II before Part I. Here it is. — JH

 The choice of the word “unadulterated” is not accidental.  There were many different kinds of gold standard, [...]


The Unadulterated Gold Standard Part II (History)

In Part I, we looked at the period prior to and during the time of what we now call the Classical Gold Standard.  It should be underscored that it worked pretty darned well.  Under this standard, the United States produced more wealth at a faster pace than any other country before, or since.  There were [...]


“I Pencil” The Movie

Free markets = spontaneous organization + free trade + specialization of labor + capital + entrepreneurship. In his 1958 essay, “I Pencil” Foundation for Economic Education founder Leonard Read told the story of the simple pencil, and the complex process which brought it into existence. It’s a classic, aimed at children, but I urge you [...]


More On Estonia: S&P Ratings

As a follow up to economist Frank Shostak’s article on Estonia yesterday, S&P affirmed their positive outlook on Estonia. — JH

Estonia Ratings Affirmed At ‘AA-/A-1+’; Outlook Revised To Stable On Economic Resilience And Political Stability

 We expect Estonia to remain resilient to a deeper and more prolonged slowdown in the eurozone, although [...]


Why Estonia Is Beating The Eurozone

This article came in this morning from the Mises Institute about Estonia, a country we’ve been casually following because of its free market friendly policies. Frank Shostak is an economist I follow closely.

Why Estonia Is Beating the Eurozone

By Frank Shostak on October 18, 2012

Against the background of a severe economic crisis in [...]


The Grand Shi Strategy Of Ron Paul

As the Republican National Convention approaches, the shouts of victory resounding in the tents will easily conceal the broader political forces at work in the party beyond this fall’s hopeful decisive victory.

The strategy of these forces are visible in the past Republican presidential campaign of Congressman Ron Paul. To some, Paul’s stubborn persistence in the campaign has been [...]


Obama And The Commanding Heights

We gather tonight knowing that this generation of heroes has made the United States safer and more respected around the world.  (Applause.)  For the first time in nine years, there are no Americans fighting in Iraq.  (Applause.)  For the first time in two decades, Osama bin Laden is not a threat to this country.  [...]


Conventional Wisdom And Our Stagnating Economy

Gallup came out with a recent poll that revealed an interesting sentiment held by our fellow Americans:

More Americans say it is important that the federal government enact policies that grow the economy and increase equality of opportunity than say the same about reducing the income and wealth gap between the rich and the poor. [...]


Ludwig von Mises on Economic Growth, Denial, and Truth in Europe

The Daily Capitalist is pleased to welcome John L. Chapman, Ph.D., an Austrian economic theory economist, as a regular contributor to our growing site. Dr. Chapman will publish articles on the economy and markets. He is Chief Economist with Alhambra Investment Partners, an investment advisory firm in Florida.  He is also a researcher affiliated with [...]


The Osawatomie Speech: A Defining Moment In History


I am not a fan of Barack Obama, but I have not criticized him as harshly as many other writers do. I have a different view of him. I see him as a rather run of the mill Progressive/Liberal who firmly believes his ideology and acts somewhat consistently on those ideas. Rather than pillory [...]