There are three main paradigms that are the basis for the industrial policies throughout the world: institutionalism, Marxism, and free-enterprise. Of the three, two have been widely and intensively implemented and both of them have dismally failed. Institutionalism and Marxism either are, or...

Current AACSB accreditation Standards require member institutions to incorporate the United Nation’s Sustainable Development Goals (SDG) into their curriculum. The problem with this requirement is that the SDG constitute mostly erroneous economics. Professors who must incorporate SDG into...

Libertarianism is a “many splendored” philosophy, with various dimensions contending with one another. Included is anarcho-capitalism, monarchism or limited government libertarianism, constitutionalism, and classical liberalism. Each category has a different perspective on taxation. This...

The concept of marketable pollution permits (MPP) has become an increasingly popular topic of discussion for environmentalists in recent years, although the idea has been around since at least 1968, when J.H. Dales published a book on the issue. This approach was given added credibility when the...

Professional female athletes have long and bitterly complained that their compensation seriously lags behind that awarded to their male counterparts, and that this situation is unjust. The problem with this argument is that it is based on the labor theory of value, a long-discredited theory that...

Milton Friedman is famous for his book title: 'Free to Choose.' He also favors educational vouchers, which denies the freedom to choose to people who do not wish to subsidize the education of other people's children. Thus, he is guilty of a logical contradiction. Why is it important to assess...