The Bank Doesn’t Own Your House (Neither Does the Government)

In a controversial conversation platformed by the New York Times and recently discussed in The Atlantic, streamer Hasan Piker implied that he might steal a car if it carried no consequences. In the interview, author Jia Tolentino also casually admits to shoplifting lemons from Whole Foods. Although petty theft is common, the interview clip spread… MORE

What does a lifelong atheist do when his dead father appears above him in the emergency room? Author and war reporter Sebastian Junger nearly bled to death in 2020 from a ruptured aneurysm, and what he saw in those moments sent him on a journey into physics, near-death experiences, and the nature of consciousness itself.… MORE

March 2026 marked the 250th anniversary of the publication of An Inquiry into the Nature and Causes of the Wealth of Nations (1776). However, Adam Smith was also the author of The Theory of Moral Sentiments (1759) and it was through his continuous revisions of this earlier work that his more famous book emerged. One… MORE

In recent years, the Arctic has returned to the center of public attention: the renewed interest in Greenland, the progressive opening of maritime routes due to ice melt, and the claims over areas like the Svalbard archipelago are clear signals that Arctic policy will remain in the public eye. Regarding the Svalbard archipelago, located in… MORE

“Whether restaurant owners should allow smoking is not a public-policy problem. It’s a totally private issue, and the person who should make the decision is the property-rights owner.” Should restaurants allow smoking or not? Should schools teach evolution or intelligent design or both? Should insurance companies cover contraception? Should I be able to take off… MORE

“Much of Book 3 is dedicated to a historical account of how and why the feudal order that prevailed throughout Europe for many centuries eventually gave way to a liberal, commercial order—that is, how a world dominated by hierarchy, dependence, and intrastate conflict was superseded by one in which the rule of law reigned and… MORE

Nobel laureate Ronald H. Coase (1910-2013) was recorded in 2001 in an extended video now available to the public. Coase’s articles, “The Problem of Social Cost” and “The Nature of the Firm” are among the most important and most often cited works in the whole of economic literature. Coase recounts how he tried to encourage… MORE

The twentieth century witnessed the unparalleled expansion of government power over the lives and livelihoods of individuals. Much of this was the result of two devastating world wars and totalitarian ideologies that directly challenged individual liberty and the free institutions of the open society. Other forms of expansion in the provision of social welfare and… MORE

Israel Kirzner, Professor Emeritus at NYU, is among the foremost scholars in the continuing development of the Austrian school of economic theory. He has extended our understanding of the workings of a free society, illuminated the role of entrepreneurs in the process of economic discovery, and shed new light on the dynamics of market forces.… MORE

One of the most fundamental requirements of a capitalist economic system—and one of the most misunderstood concepts—is a strong system of property rights. For decades social critics in the United States and throughout the Western world have complained that “property” rights too often take precedence over “human” rights, with the result that people are treated… MORE

Harold Demsetz made major contributions to the economics of property rights and to the economics of industrial organization. He also coined the term “the Nirvana approach.” Economists have altered it slightly but use it widely. Demsetz was one of the few top economists of his era to communicate almost entirely in words and not math.… MORE

Intellectual property is normally defined as the set of products protected under laws associated with copyright, patent, trademark, industrial design, and trade secrets. The U.S. Constitution expressly allows for intellectual property protection, albeit for a limited time, in the form of protection of “writings and discoveries” in order to promote “science and useful arts.” This… MORE