Business The Circle Bastiat

  • Are central banks really necessary?

    Some analyst argue that a central banking system is only necessary when an economy operates with paper money. Others think that isn't always the case. 

  • For shame: Who is really to blame in USOC uniforms spat?

    In the face of political pressure regarding the use of Chinese manufacturers for Olympic uniforms, the USOC capitulated. But perhaps the more important question is, why is it so much more expensive to manufacture clothing domestically.

  • Sorens on Raico: Great minds think (mostly) alike

    A review of Ralph Raico’s outstanding recent book, Classical Liberalism and the Austrian School reminds David Gordon that appeals to “the results of human action but not of human design” are quite common among Austrian methodological individualists.

  • Debate on reserve fractional banking devolves into public squabble

    Ron Paul showed how he is open to debate by having both Professor Joseph Salerno and Professor Larry White testify before his sub-committee on the subject of fractional reserve banking. But a perceived bias towards Salerno prompted a rebuke by George Selgin.

February 27, 2015

Photos of the Day 2/27

Chinese soldiers from the People's Liberation Army (PLA) cover themselves in snow during cold endurance training in Heihe in northeast China's Heilongjiang province. The training is designed to improve the soldiers' ability to complete tasks under extreme weather conditions.

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