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Library of Economics and Liberty
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Simon Newcomb: What Society Does for the Laborer
http://www.econlib.org/library/Newcomb/nwcABC1.html#Lesson...
» Show details(May 5, 2008) In the first chapter of his The ABC of Finance, Newcomb explains how an unfettered economy works together behind the scenes to provide workers with goods.
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Mack Ott: Foreign Investment in the United States
http://www.econlib.org/library/Enc/ForeignInvestmentintheUni...
» Show details(May 5, 2008) In the short run, foreign capital invested in the United States raises U.S. gross domestic product (GDP). This means that U.S. residents are better off than they would be without foreign capital. Still, long-run scenarios of foreign ownership trouble many critics: What payment will foreigners exact for our use of their capital?
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Michael Munger: Orange Blossom Special: Externalities and the Coase Theorem
http://www.econlib.org/library/Columns/y2008/Mungerbees.html
» Show details(May 5, 2008) Some economists have alleged that bee-keepers and orchard owners will cause the market to fail by not taking into account the effect of each side’s activity on the other. But Michal Munger points out that if economists can see a potential problem, then bee-keepers and orchard owners are smart enough to see it too
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Martinez: That Haunting Chilean Model
http://www.econlib.org/library/Columns/y2008/MartinezChile.h...
» Show details(May 5, 2008) Ibsen Martinez revisits the Chilean experience with trade and domestic liberalization.
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Jasay: A Trillion Dollar "Catastrophe"?
http://www.econlib.org/library/Columns/y2008/Jasaycatastroph...
» Show details(May 5, 2008) Anthony de Jasay talks about the financial fallout in Europe and argues that it is a zero-sum game.
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ECONLIB QUOTE OF THE DAY
http://www.econlib.org/cgi-bin/quoteoftheday.pl#98
» Show detailsMonday, April 7, 2008 From: Malthus, An Essay on the Principle of Population, 6th edition, Book I, Chapters XI-XII, (par. I.XII.33): These unfavourable seasons do not appear to be unfrequent, and the famines which follow them are perhaps the most powerful of all the positive checks to the Chinese population;
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ECONLIB QUOTE OF THE DAY
http://www.econlib.org/cgi-bin/quoteoftheday.pl#112
» Show detailsMonday, April 21, 2008 From: Read, I, Pencil, (par. RP.15): My cedar receives six coats of lacquer. Do you know all the ingredients of lacquer? Who would think that the growers of castor beans and the refiners of castor oil are a part of it? They are. Why, even the processes by which the lacquer is made a beautiful yellow involve the skills of
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ECONLIB QUOTE OF THE DAY
http://www.econlib.org/cgi-bin/quoteoftheday.pl#119
» Show detailsMonday, April 28, 2008 From: Mises, The Theory of Money and Credit, Part II, Chapters 7-8, (par. II.8.35): That the objective exchange value of money as historically transmitted (der geschichtlich überkommene objektive Tauschwert des Geldes) is affected not only by the industrial use of the material from which it is made,
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ECONLIB QUOTE OF THE DAY
http://www.econlib.org/cgi-bin/quoteoftheday.pl#105
» Show detailsMonday, April 14, 2008 From: Marshall: Principles of Economics, Book I, Chapter I, (par. I.I.13): § 4. It is often said that the modern forms of industrial life are distinguished from the earlier by being more competitive. But this account is not quite satisfactory. The strict meaning of competition seems to be the racing of one person against
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ECONLIB QUOTE OF THE DAY
http://www.econlib.org/cgi-bin/quoteoftheday.pl#91
» Show detailsMonday, March 31, 2008 From: Bastiat: Selected Essays, Chapter 12, Reflections on the Amendment of M. Mortimer-Ternaux, (par. 12.3): For my part, it seems to me that there is a connection between the aspiration that impels all men towards the improvement of their material, intellectual, and moral condition, and the faculties with which they are
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