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:...

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...

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...

The present paper is devoted to showing that all externalist explanations for truth in economics are false, but that if there any are used, it should not be the democratic one utilized by Rosen (1997). Rather, even though it is equally fallacious, it should the one proposed in the present paper:...

This paper shall attempt to reconcile environmentalism and economic freedom.Before making this seemingly quixotic endeavor, we must be sure we are clear on both concepts. Environmentalism may be non controversially defined as a philosophy which sees great benefit in clean air and water, and to a...

Richard Stroup (1988) attempts to show that the Homestead Act of 1862 was an economic disaster, in that it led to needless misery and suffering on the part of people who settled the western lands under that program. In his analysis, homesteading encouraged the too rapid pushing back of the...

Purpose - The purpose of this paper is to counter the misunderstanding by Paul Craig Roberts of empirical measures of economic freedom.Design/methodology/approach - The objective is achieved by citing Roberts' criticisms of the Fraser and Cato studies of economic freedom and demonstrating the...

Kyle Bagwell and Garey Ramey (1994), hence (BR), address themselves to a challenging task. It is to make sense of the fact that advertising which is “ostensibly uninformative” can nevertheless promote sales. Nor are they content with this effort, no matter how formidable in and of itself. In...