The Human Chessboard

Adam Smith’s Wealth of Nations with its often misunderstood ‘invisible hand’ was preceded by The Theory of Moral Sentiments, a work many consider more important and should be considered an integral part of Wealth of Nations. This Quotation of the Day from Don Boudreax...

The Great Progressive Fallacy

from Don Boudreaux at Cafe Hayek (highly recommended) , a quote from Robert Higgs: Nothing has done more to render modern economic theory a sterile and irrelevant exercise in autoeroticism than its practitioners’ obsession with mathematical, general-equilibrium...

Obscuring Intellectual Failure

Don Boudreaux at Cafe Hayek quotes from Deirdre McCloskey’s outstanding Bourgeois Equality in his Bonus Quotation of the Day: Members of the left clerisy, such as Tony Judt or Paul Krugman or Thomas Piketty, who are quite sure that they themselves are taking the...

Saviors Need Victims

from Don Boudreux at Cafe Hayek  Saviors Need Victims Who Need Saving Saviors need victims who need saving.  And if such victims are not real and readily available, the saviors conjure them up by convincing themselves that this or that group of people are helpless...

Common Economic Fallacies

Don Boudreaux at his excellent Cafe Hayek in his Quotation of the Day, finds an excerpt from Armen Alchian from a textbook, University Economics in 1972. This excerpt points out several economic fallacies, many of which are still common today, and it points out that...