Purpose – The purpose of this paper is to discuss a unique principal–agent dilemma, one that is very much off the beaten track. The relationship of the Popes pre-1500 and God was one full of emptiness and strain. The Catholic Church was saved by a positive externality of the printing press...

Purpose: This study aims to offer a critique of the theory of the deterioration in terms of trade, developed by Raúl Prebisch and Hans Singer. Design/methodology/approach: As an example of the theory’s shortcomings, the case of Argentina’s import substitution model is analyzed. Findings:...

Purpose: The purpose of this paper is to correct Rozeff (2010). He contends that fractional-reserve banking is legitimate and efficacious. The authors demonstrate that it is not. Design/methodology/approach: The design of this paper is to quote widely from Rozeff (2010) and then to expose his...

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...

1. Epistemology and Methodology -- 2. Microeconomics -- 3. Labor Economics -- 4. Macroeconomics -- 5. International Economics -- 6. Political Philosophy -- 7. Law -- 8. Public Policy -- 9. Final Thoughts.