Essays & News

  “Historic!” trumpeted Thierry Breton, the European Commissioner for Internal Market, in a statement extolling new comprehensive regulations over artificial intelligence (AI) that in his words would make Europe “the first continent to set clear rules” for the technology. The assumption is that the European Union, having approved the rules in December, is blazing a trail […]

  Key Take Aways:  Lyn’s new book, “Broken Money”, explores the past, present, and future of money through a technological Emphasizing the impact of inventions like the telegraph on monetary history, the book delves into the evolving nature of currency, from credit theories to contemporary innovations like Bitcoin, stable coins, and the potential for global […]

  For decades, the European Commission and international groups like the World Trade Organization and Organisation for Economic Co-operation and Development (OECD) have stood against state subsidies for domestic industries. They correctly emphasized that subsidies are economically distortive, undermine fair competition, favor politically connected businesses or sectors over others and slow economic growth. Policymakers have not always succeeded at limiting […]

  Hardy Bouillon*: Business Ethics and the Austrian Tradition in Economics. Routledge, London, 2021. Originally published in German as “Wirtschaft, Ethik und Gerechtigkeit”, vol. IX, ECAEF, “Studien zur Wirtschafts- und Gesellschaftsordnung”. I This book is not politically correct and thus will almost certainly provoke some heated debates. In the course of four short chapters, with concluding […]

  At first blush, the Chinese economy is doing relatively well. Although annual gross domestic product (GDP) growth averaged 10 percent during the first decade of this century and dropped to about 7 percent during the next, it was remarkably strong during the pandemic and is expected to reach 5 percent this year. These are […]