An American Classical Liberalism

Every four years, as the November presidential election draws near, I have the same daydream: that I don't know or care who the president of the United States is. More importantly, I don't need to know or care. I don't have to vote or even pay attention to debates. I can ignore all campaign commercials. There are no high stakes…

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The State of Modern Economics

Peter G Klein is Carl Menger Research Fellow of the Mises Institute and W.W. Caruth Chair and Professor of Entrepreneurship at Baylor University’s Hankamer School of Business. He is also senior research fellow at Baylor’s Baugh Center for Entrepreneurship and Free Enterprise and adjunct professor of strategy and management at the Norwegian School of Economics. His research focuses on the…

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Decentralization, Absolutism, and the Papal States

[The Pope Who Would Be King: The Exile of Pius IX and the Emergence of Modern Europe by David Kertzer Random House, 2018 xxx + 474 pages] Historian David Kertzer made a name for himself with his 1997 book The Kidnapping of Edgardo Mortara. The book covers the until-then-rarely-mentioned case of an Italian Jewish boy who was illicitly baptized by…

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Why innovation is the key to sustainable business

Running a business is no easy thing.  For the past 18 years, I’ve been on that journey of entrepreneurship. A journey filled with buzzwords like MVPs, scaling, growth, hustle, work-life balance and whatever else fake gurus say on YouTube to sound fancy. And let me tell you, it’s a tough path to be on. The world really does not care…

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Political Competition vs. Market Competition

[Editor's note: In this selection from The Society of Tomorrow, Gustave de Molinari (1819-1912) discusses how competition in the political and natural worlds differ greatly from competition in the marketplace. We find Molinari makes some observations similar to those of Ludwig von Mises in identifying the consumer as the ultimate arbiter of who "wins" in market competition: "The most powerful rival still takes…

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Post-pandemic worker shortage puts Brexit to the test

Cristian quit his job at an upmarket hotel in Cambridgeshire in July. The 34-year-old from Romania had climbed the ladder from waiter to operations manager during his 16 years working in the hospitality industry. He now works 30-hour weeks for a local supermarket as an assistant manager and delivers parcels on Friday and Sunday to make ends meet. “The world…

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The Noneconomic Objections to Capitalism

[Editor's note: this article is excerpted from part IV of The Anti-Capitalistic Mentality. In the nineteenth and twentieth century, socialists often argued that socialism was superior to capitalism because it would deliver a higher standard of living and more consumer goods. When it became clear socialism could not compete with capitalism in terms of material well-being, the socialists shifted their arguments,…

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