Opinion

Freeze Details Iceland

In this relatively short but highly illuminating book, economics professors Philipp Bagus and David Howden (both of whom are schooled in Austrian theory) explain the collapse of Iceland’s economy in 2008. Why bother with the difficulties of that little nation (population 313,000) in the remote North Atlantic? The reason is that the Icelandic debacle stemmed from exactly the same governmental blunders that have caused so many other boom and bust cycles around the globe. Iceland’s horrible recent experience has important lessons for Americans — indeed for people everywhere.

George Leef

Help Support Non-profit Journalism & Donate Today

Opinion

‘Occupy’ Protesters Could Learn Much From Palmer’s Morality of Capitalism

The Morality of Capitalism is aimed especially at young people who have gotten a negative impression of capitalism — as the subtitle accurately suggests, college students are likely to hear little that’s good or accurate about it in their courses — but even veterans of the battle for liberty will find a lot of fresh, intriguing material here.

George Leef
Opinion

Command or Competition?

The most familiar story of the need for extensive bank regulation depicts pre-Federal Reserve banking in the U.S. as chaotic, rife with uncertainty and bank failure. But that's not the story that a more complete history offers. In the regulation vs. deregulation debate, there are important instances of well-functioning free enterprise banking and market discipline. In the U.S., the best example is the Suffolk Clearinghouse system.

Dr. Karen Y. Palasek