We claim that macroeconomic modeling in terms of financial assets is superior to the more traditional model of loanable funds. One advantage of this perspective is that it allows us to take cognizance of the fact that the world is complex: there are many more than one market involved. It also...

At the inception of the Jesuit order in the 16th century, they played an important role (along with the Dominicans) in the formation of the School of Salamanca. The economic philosophy undergirding this institution was far more radically free enterprise oriented than even Smith (1776). Yet, in...

Abraham Lincoln was the great centralizer. His War of 1861 was only the tip of the iceberg in this regard. This core of his philosophy can also be seen in his “contributions” to class warfare, the American “system” of public works, strong tariff protection, public lands policy, welfare...

In the view of Boettke (1998), Coase (1960) casts lights of understanding in a myriad of fields, including, preeminently, property rights theory and the Soviet system of economics. The claim of the present author, in sharp contrast, is that this seminal article of Coase’s is a snare and a...