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Written in the same year that he testified before the Currency Commission in Austria-Hungary, and published in English in 1892, Carl Menger explains that it is not government edicts that create money but instead the marketplace. Individuals decide

Government Failure and Over-Government Government Failure and Over-Government

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"In the fifth volume of The Collected Works of Arthur Seldon, Arthur Seldon uses public choice economics research to support his theory of over-government. The term "over-government" was coined by Seldon and is defined as the failure of governments

Beyond Mechanical Markets Beyond Mechanical Markets

Roman Frydman

In the wake of the global financial crisis that began in 2007, faith in the rationality of markets has lost ground to a new faith in their irrationality. The problem, Roman Frydman and Michael Goldberg argue, is that both the rational and behavioral

Depreciation, Inflation, and the Taxation of Income from Capital Depreciation, Inflation, and the Taxation of Income from Capital

Charles R. Hulten (ed.)

Few areas of the U.S. Tax Code have been changed or revised more frequently than those sections relating to depreciable assets…Unfortunately, none of these changes anticipated the high rates of inflation of the 1970s, and the tax treatment of

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