April 2019 ISSUE

Contemporary Society’s Crumbling Pillar

By Arnold Kling

Once we understand that community matters, then it becomes clear why it is not enough for a country to experience strong economic growth... How that growth is distributed across communities in the country matters immensely. What then is the source of today'...

Who Was Adam Smith?

By Maria Pia Paganelli

Born in Scotland in 1723, where he lived most of his life and where he also died in 1790, Adam Smith is a mythical figure who fathered the modern discipline of economics, embraced unbridled self-interest, and fought against the government to promote capitalism and t...

Hayek, Mises, and the Methodology of the Social Sciences

By Adam Martin

The Fortunes of Liberalism1 collects a wide-ranging number of Friedrich. A. Hayek's articles, reviews, addresses, and even obituaries—35 in total—spanning all seven decades of his scholarly career from the 1920s to the 1980s. To call this collection eclectic is ...

Interpreting Modern Monetary Theory

By Jeffrey Rogers Hummel

Introduction Modern Monetary Theory (MMT), a non-mainstream economic doctrine, has recently emerged from popular and academic obscurity to become a hot topic. Enthusiastically embraced by assorted progressive politicians, MMT allegedly demonstrates that such expans...

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