Money spent on "luxuries" goes to support ordinary people who use profits from luxury goods to make a living and support their families.
U.S. HistoryWar and Foreign Policy
BiographiesAustrian Economics Overview
We have designed a survey to investigate 8 entrepreneurial traits. Please help us to refine this research instrument by participating in this survey.
World HistoryOther Schools of ThoughtPhilosophy and Methodology
This year’s Nobel is particularly illustrative of what gets rewarded in economics, and how this does not exactly conform with more intuitive notions of scientific progress.
Even if we accept the mainstream narrative on the effects of climate change, the costs of implementing a global regulatory "mitigation" program are far higher than advocates admit.
Big GovernmentFinancial MarketsGlobal Economy
Blaming the euro will not save Italy. Italy’s problem is political spending — the same problem that this new budget is going to greatly increase.
World HistoryPolitical Theory