The Baron de Coubertin, the founder of the modern Olympic Games, championed the idea of reviving the ancient Greek Olympics as a way of fostering
Category: Act II: Free-Market Folly: Why Economics is not a Science
Fear and Economic Demand
It is generally understood that economic demand – the total purchases made, whether by consumers or by those who are intermediaries in the chain of
What You See is What You Know: How to Overcome the Grave Dangers of Human Myopia
The corollary to the first part of this essay’s title is also true: what you don’t see is what you don’t know – and often
The Myth of the Trickle-Down Effect
A common belief that is prevalent among economists, in particular free-market economists, is that, by itself, capitalism and global free trade will provide a better
Greed is Bad
In the movie Wall Street, the director sought to present to viewers a modern-day parable illustrating the harmful effects of greed. By portraying the protagonist,
The Free Market is not Free: The Grave Inefficiency of the Price Mechanism
In classical economic theory, all the participants in the economy are assumed to have perfect and complete information, at all times, about everything they need
Homo Stupidus 