On the Notion of Sacrifice

One of the central messages of President Obama’s inaugural speech was that Americans now must sacrifice in a time of great hardship. This sounds noble, but also is rather vague. What kind of sacrifice is Obama talking about?

It would be fair to venture to guess that sacrifice for Barack Obama means a number . . . → Read More: On the Notion of Sacrifice

Oligopoly or a Free Market – A Realistic Choice?

The study of economics should be clearly divided into its factual, quantifiable aspects (more commonly referred to as “econometrics”) distinct from the more philosophical and abstract study (generally known as ‘normative economics’). This is becoming increasingly important as the world has become ever more interdependent. The global financial crisis attests to this.

The argument . . . → Read More: Oligopoly or a Free Market – A Realistic Choice?