Essays & News

  Nobody can be a great economist who is only an economist – and I am even tempted to add that the economist who is only an economist is likely to become a nuisance if not a positive danger. F.A. von Hayek   TAKE AWAY Nobel Laureate Friedrich A. von Hayek was arguably the most seminal […]

In a nutshell Demographic decline and low consumer spending have held back growth However, recent market trends could signal an upturn The weak yen will likely boost investments and benefit the government   For much of the 1970s and 1980s, experts predicted that Japan would eventually surpass the United States as global hegemon, and that […]

  Freedom and the rule of law are of paramount importance in free societies. A functioning democracy is likely the best system for preserving these values. At present, there is perceived antagonism between democracies and authoritarian regimes. Although this may not fully capture the complexity of global politics, it is evident that the free world […]

  People respond to incentives, not to mandates or regulations. Gary S. Becker   Take Away While Paul A. Samuelson (Nobel Prize 1970), Milton Friedman (Nobel Prize 1976), or George Stigler (Nobel Prize 1982) probably exercised a greater sway on practical economic policy, Gary Becker expanded the scope of economics as a science like no […]

  With dollarization discarded in the short run, the world is eagerly watching Milei’s initial steps as the new president of Argentina. Milei took office in December with a yearly inflation rate of 211 percent (yes, you read that right). Despite the lack of robust monetary reform, Milei’s government managed to reduce the inflation rate […]