Do Individuals Measure Value? Ludwig von Mises vs. David Friedman »

In a recent blog post, Bryan Caplan favorably quoted David Friedman, who claimed in his book Hidden Order that economists believed that everything—including happiness—can be measured in money, or in units of anything else, for that matter. Friedman and Caplan are deliberately trying to jolt the reader, but they believe the claim is defensible once put into...
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Even a Dimwit May Be Right and a Genius Wrong about Some Things »

Sometimes when I criticize something maintained by a great intellectual such as Ludwig von Mises, people respond on social media by writing shorthand comments such as “Mises > Higgs.” This is silly. Am I the intellectual equal of Mises? Of course not. I would be an idiot to suppose I am. However, my overall...
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We Need Free Enterprise in Banking »

Former House Speaker Dennis Hastert has pleaded guilty in what has been called a “hush-money” case. Hastert could receive up to five years in prison, though prosecutors have recommended six months as part of his plea deal. The amazing thing about this case is that such a harsh sentence comes not from any misconduct...
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