The life and legacy of Ronald Coase

The great economist Ronald Coase has died at the age of 103. Vuk Vukovic explains what made Coase such an influential and profound thinker.

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Why Marx was wrong about capitalism

Dr Madsen Pirie’s speech in opposition to the motion: “Karl Marx was right. Capitalism post-2008 is falling apart under its own contradictions.”

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What Hayek would do: How Austrian economists would fix the crisis

Robert CB Miller gives a modern Austrian explanation of the crisis, and argues that tightening the ‘loose joint’ of bank credit expansion is the key to preventing a repeat in the future. Based on the work of FA Hayek and other Austrian school economists, he says that the recession is a necessary part of the recovery process, as bad investments are liquidated and new profit routes discovered, but government draws out this process by regulating markets and restricting trade.

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