Automation: chance or threat?
Less than two years before Stephen Hawking’s death in December 2016, the renowned physicist has warned in The Guardian that the automation and artificial intelligence was destroying the middle class. He wrote [...]
Was Tulipmania the Madness of Crowds?
The Seventeenth century was the golden age for the Netherlands. Trade, industry, science, and art were all blooming. Some of the reasons for this development were immigration of qualified employees to the [...]
Capitalism – The Unknown Ideal?
We start by addressing an important question: What is politics? There are numerous definitions. One encyclopedic definition states: "According to political philosophy politics is a strife to implement the idea of The [...]
Investment Risk and Its Types
In the simplest of terms, the “investment risk,” is a possibility of an investment bringing a result other than anticipated.1 You may lose some or all of your invested funds, even though [...]
Universal Basic Income | Pros and Cons | UBI
Have you ever wondered what it would be like to go back to the 1970s soviet country, and return to our times with then-popular maxim: “Down you lie or up you stand, [...]
Why is US healthcare system so expensive?
Why is US healthcare system so expensive? Is it because the free market failed? Or is it because of various government interventions? Learn Austrian Economics in a fun way!
¿De dónde viene la riqueza? | Ahorros e inversiones
Imaginaos un mundo en el que, de un momento a otro desaparecen todas las herramientas, todos los edificios, coches, máquinas e incluso cosas tan básicas como cuchillos, martillos o palas. ¿Cómo sería nuestra [...]
I, Pencil By Leonard E. Read
I, Pencil By Leonard E. Read I am a lead pencil—the ordinary wooden pencil familiar to all boys and girls and adults who can read and write. Writing is both my vocation and [...]
Prisoner’s Dilemma and Self-enforcing Contracts
“Two men suspected of a crime are arrested. Though there is no evidence to convict them on a principal charge, there is enough to convict them on a lesser charge. Each prisoner is put [...]
The Tragedy of The Commons | How to avoid it?
In the manors of feudal England there were some constituent lands that were available for shared use. One of the types of these common lands were common pastures. The commoners were not their owners, [...]