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2021

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2021

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2021

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2021

November 2021

Article

Can Cryptocurrencies Become Money?

By Nicolás Cachanosky

The cryptocurrency world has continuously grown since the launch of Bitcoin in January 2009. The novel cryptocurrency was initially launched as a payment technology, namely, to make peer-to-peer transactions without the need for a financial intermediary between the ...

Book Review

If I Were a Market Monetarist

By Arnold Kling

The central problem in monetary policy is that the variables that a central bank can easily control on a day-to-day basis, such as the fed-funds rate, the monetary base, and the price of gold, do not reliably correlate with the things we care about, such as the CP...

Book Review

Ludwig von Mises’ Decisive Blows Against Interventionism

By Walter Block

A Liberty Classic Book Review of Ludwig von Mises. 2011[1940]. Interventionism: An Economic Analysis. Indianapolis, IN: Liberty Fund.1 There is no small book that can take the place of Ludwig von Mises' magisterial book, Human Action.2 However, if there were ...

Book Review

Sermons from Evolutionary Biologists

By Arnold Kling

The best, most all-encompassing way to describe our world is hyper-novel. As we will show throughout this book, humans are extraordinarily well adapted to, and equipped for, change. But the rate of change itself is so rapid now that our brains, bodies, and social ...

October 2021

Article

The Business Subversion of Markets: Contra-Capitalism

By Roger Donway

When a business exploits political interventionism for profit, several terms may be used to describe the undertaking. If one is looking at the exploitation from the perspective of political science—and perceives the behavior as a special-interest group corrupting impa...

Article

We at 100: The Case for Liberty

By Caroline Breashears

Review of We, by Yevgeny Zamyatin. Modern Library Classics. July 11, 2006. First written 1921.1 Decades before Gene Roddenberry launched the U.S.S. Enterprise, Yevgeny Zamyatin imagined the maiden voyage of INTEGRAL, a spaceship designed to carry the odes...

Book Review

Two Theories of Mind

By Arnold Kling

... people see minds in terms of two fundamentally different factors, sets of mental abilities we label experience and agency. The experience factor captures the ability to have an inner life, to have feelings and experiences. It includes the capacities for...

September 2021

Article

Progressives’ Desires to Help the Poor Will End Up Hurting Them Instead

By Craig J. Richardson and Richard B. McKenzie

President Biden is crisscrossing the country, pitching his "American Families Plan" at various town halls and press conferences. The White House plan promises to "create millions of new jobs, rebuild the country's infrastructure… and (help) families cover basic expens...

Book Review

Immigration and the Open Society

By Alberto Mingardi

A Book Review of Immigration and Freedom, by Chandran Kukathas.1 Freedom is "in some way a very ordinary thing, consisting in not being hindered or obstructed in the pursuit of our everyday ends, or watched as we go about our business, or prevented from associati...

Book Review

The Role of “We” Versus the Role of “I”

By Arnold Kling

All countries and cultures have three basic institutions. There is the economy, which is about the creation and distribution of wealth. There is the state, which is about the legitimization and distribution of power. And there is the moral system, which is the voi...

Book Review

Is Inequality a Problem?

By Nils Karlson

Book Review of The Poor and the Plutocrats: From the Poorest of the Poor to the Richest of the Rich (Oxford University Press 2021) by Francis Teal.1 Is inequality a problem? Many people seem to think so, if we judge the public discussions in Europe and the Un...

August 2021

Article

150 Years of the Austrian School of Economics

By Caleb Fuller

Carl Menger Is 1871 the most important year in the history of social science? I think so. That year, Austrian financial journalist Carl Menger published his Grundsätze der Volkswirtschaftslehre—or Principles of Economics. Later that year another eminent British ec...

Book Review

Liberty, Not Licensing: John Milton’s Areopagitica

By Sarah Skwire

A Liberty Classic Book Review of Areopagitica and Other Political Writings of John Milton.1 What does it take for a book to get banned? The Newbery Award-winning children's book, The Higher Power of Lucky, has been the center of a storm of this kind of d...

Book Review

Should Humans Be More Like Machines?

By Arnold Kling

System noise, that is, unwanted variability in judgments that should ideally be identical, can create rampant injustice, high economic costs, and errors of many kinds. —Noise: A Flaw in Human Judgment, by Daniel Kahneman, Olivier Sibony, and Cass R. S...