Much of mainstream economics holds to the Efficient Market Hypothesis (EMH), which is built on highly unrealistic foundations. The Austrian causal-realist approach has more explanatory power.

The dystopian futuristic movie “Elysium” portrays a terrible future in which on the rich have medical care while the poor suffer on an overpopulated, polluted planet. The film’s theme—that only huge wealth transfers can bring medical care to low-income people—is fundamentally flawed.

Keynesian orthodoxy claims that the cause of recessions is a decline in so-called aggregate demand. Besides confusing cause-and-effect, Keynesians don't understand that downturns are the result of malinvestments made during the boom because of central bank interference in the economy.

Prompted by an online debate about whether economics belongs with the hard sciences, Bob reviews common defenses of mainstream practice and explains why they don’t settle the scientific status of the field.

Roger Williams, the Baptist minister whose libertarian views ran afoul of the Massachusetts Bay Colony authorities, should be honored as one of this country’s early libertarians.

When we think of the term “equality,” most of us think of it in a formal sense: equality under the law. However, political elites are demanding “substantive” equality, which is impossible to achieve.