Economy

Economic Thoughts, Part VI: More on the Relationship Between Economic Freedom and Political Freedom

By Donald B. Hawthorne | May 24, 2006 |

This posting is Part VI in a series of postings about economic thoughts. This posting contains excerpts from Chapter 1 of Nobel Laureate Milton Friedman’s 1962 classic book, Capitalism & Freedom in which he continues a discussion about the relationship between economic freedom and political freedom: It is widely believed that politics and economics are…

Economic Thoughts, Part VI: More on the Relationship Between Economic Freedom and Political Freedom

By | May 24, 2006 |

This posting is Part VI in a series of postings about economic thoughts. This posting contains excerpts from Chapter 1 of Nobel Laureate Milton Friedman’s 1962 classic book, Capitalism & Freedom in which he continues a discussion about the relationship between economic freedom and political freedom: It is widely believed that politics and economics are…

Economic Thoughts, Part V: The Relationship between Economic Freedom and Political Freedom

By Donald B. Hawthorne | May 23, 2006 |

This posting is Part V in a series of postings about economic thoughts. This posting contains excerpts from the Introduction of Nobel Laureate Milton Friedman’s 1962 classic book, Capitalism & Freedom in which he begins a discussion about the relationship between economic freedom and political freedom: …The free man will ask neither what his country…

Economic Thoughts, Part V: The Relationship Between Economic Freedom and Political Freedom

By | May 23, 2006 |

This posting is Part V in a series of postings about economic thoughts. This posting contains excerpts from the Introduction of Nobel Laureate Milton Friedman’s 1962 classic book, Capitalism & Freedom in which he begins a discussion about the relationship between economic freedom and political freedom: …The free man will ask neither what his country…

Economic Thoughts, Part IV: The Abuse of Reason, Fallacies & Dangers of Centralized Planning, Prices & Knowledge, and Understanding Limitations

By Donald B. Hawthorne | May 22, 2006 |

This posting is Part IV in a series of postings about economic thoughts. This posting contains excerpts from a January 2005 Reason magazine article, entitled Hayek for the 21st Century, which discusses biographer Bruce Caldwell’s thoughts on Nobel Laureate Friedrich Hayek’s ideas regarding: (i) the abuse of reason; (ii) fallacies and dangers of centralized planning;…

Economic Thoughts, Part III: Why Policy Goals are Trumped by Incentives They Create & the Role of Knowledge in Economics

By Donald B. Hawthorne | May 21, 2006 |

This posting is Part III in a series of postings about economic thoughts. The excerpts in this posting are taken from Chapter 24, entitled Parting Thoughts, in Thomas Sowell’s book Basic Economics: A Citizens Guide to the Economy and discuss: (i) why policy goals are trumped by incentives they create; and, (ii) the role of…

Economic Thoughts, Part III: Why Policy Goals are Trumped by Incentives They Create & the Role of Knowledge in Economics

By | May 21, 2006 | Comments Off on Economic Thoughts, Part III: Why Policy Goals are Trumped by Incentives They Create & the Role of Knowledge in Economics

This posting is Part III in a series of postings about economic thoughts. The excerpts in this posting are taken from Chapter 24, entitled Parting Thoughts, in Thomas Sowell’s book Basic Economics: A Citizens Guide to the Economy and discuss: (i) why policy goals are trumped by incentives they create; and, (ii) the role of…

Economic Thoughts, Part II: Myths About Markets

By Donald B. Hawthorne | May 20, 2006 |

This posting is Part II in a series of postings about economic thoughts. The excerpts in this posting are taken from Chapter 23 in Thomas Sowell’s book Basic Economics: A Citizens Guide to the Economy and discuss myths about markets, including: (i) morality and markets; (ii) prices; (iii) the role of profits; (iv) non-profit organizations;…

Economic Thoughts, Part II: Myths About Markets

By | May 20, 2006 | Comments Off on Economic Thoughts, Part II: Myths About Markets

This posting is Part II in a series of postings about economic thoughts. The excerpts in this posting are taken from Chapter 23 in Thomas Sowell’s book Basic Economics: A Citizens Guide to the Economy and discuss myths about markets, including: (i) morality and markets; (ii) prices; (iii) the role of profits; (iv) non-profit organizations;…

Economic Thoughts, Part I

By Donald B. Hawthorne | May 20, 2006 |

This posting is Part I in a series of postings about economic thoughts. The excerpts in this posting are taken from Thomas Sowell’s book Basic Economics: A Citizens Guide to the Economy and define what is economics. Chapter 1: What is Economics? Virtually everyone agrees on the importance of economics, but there is far less…

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