Inequality is Shrinking: Branko Milanović Disagrees with Oxfam
Every year the Oxfam report makes sensational headlines. The tenor: global inequality is increasing. 26 billionaires would own as much as the 3.8 billion poorest people in the world. Leading inequality specialist Branko Milanović unmasks Oxfam’s alarmism as misleading.
Market Capitalism and Christian Social Ethics: A Contradiction?
Capitalism and free markets are widely considered to be incompatible with Christian social ethics. At a closer look, however, market capitalism turns out to be the economic order most consistent with the basic principles of Christian ethics.
On Our Own Behalf: The Austrian Institute introduces itself
In 1949, Friedrich August von Hayek—one of the most important representatives of the Austrian School of Economics—said in an essay entitled “The Intellectuals and Socialism”: “What we lack is a liberal utopia…a truly liberal radicalism which does not spare the susceptibilities of the mighty…
“Give unto Caesar what is Caesar’s”—but no more: monetary policy as a strategy to extend state power
When contemplating the future, and trying to imagine possible developments, there is always a fine line between optimism and self-delusion. We generally overestimate our abilities to influence what lies ahead; and we tend to underestimate the power of external factors.