Purpose – Catholic social teaching is predicated upon their notion of “social justice.” In this perspective, the rich, as do the poor, have rights only to a bare subsistence level of income. Any wealth greater than this amount is owned by all of mankind, not by those who hold private...

The present paper is an exploration of the economics of subjectivism and opportunity or alternative costs. Most contemporary economists pay lip service to these concepts, but when push comes to shove, all too often they jettison them. We shall illustrate this lapse from basic economics with a...

The thesis of this paper is that when the indifference curve is concave to the origin, the optimal point on the budget line is not the corner solution on the highest (most north eastern) indifference curve, the analysis all too often offered in the literature, but, rather, somewhat...

Fair trade gains popularity, while free trade is undergoing more and more criticism. Since international free trade supposedly pollutes the environment, promotes the utilization of sweatshops, exploits child labor, and impoverishes developing countries, fair trade is a preferable alternative...

Purpose – The purpose of this paper is to analyze South Park's take on the causes of the recession and the housing bubble. Design/methodology/approach – The essay describes the events in the South Park episode and compares them to the respective events of the recession and the housing...

Purpose – The purpose of this paper is to criticize the current US tax system and explain in what ways taxation harms the economy. Taxes are coercive. Taxpayers are forced to pay individual income taxes. If the taxpayer refuses, several adverse consequences will unfold against him even...

Purpose – The purpose of this paper is to shed critical light on micro-finance. Design/methodology/approach – This scheme is managed from an economic perspective. Findings – Micro-finance comes to us as a left wing attack on the free enterprise system; as such, it ought to be opposed by...

According to libertarian homesteading theory, in order to convert unowned virgin territory into ownership status, one must mix one’s labor with it, thus transforming it through his efforts into land that can be better used by humanity than what was initially there. But, what about acreage...

Counterfeiting legitimate money is, and ought to be, a crime, not only under the libertarian law code but under the rules and regulations of all civilized orders. But what about counterfeiting money that is per se illegitimate; that is, is itself counterfeit? Is that a licit human action? The...