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One of the legacies of Keynesian thought is the belief that war is “good for the economy.” While war may help enable employment, nonetheless, its overall legacy is destructive, and even the jobs war “creates” are economically undesirable.
Original article: https://mises.org/mises-wire/myth-wont-die-war-good-economy
When you’re listening to the news, you will often hear words that are meant to communicate the probability of something happening. A terrorist attack is “a realistic possibility”, the spread of a certain strain of virus is “highly likely", the relegation of your favourite football team is “possible”.
But when you hear these terms, do you really know what kind of probabilities they’re trying to convey? Do you know how likely “likely” is? Or what probability “probable” is meant to get across?
In some cases, it seems you probably don't.
Professor Adam Kucharski, author of Proof, the Uncertain Science of Certainty, designed a quiz to work out the actual probabilities of the language we use to convey risks.
The data he got back shows how sometimes these words mean very different things to different people.
If you want to try the quiz for yourself, head over to https://probability.kucharski.io/
Email the More or Less team: moreorless@bbc.co.uk
CREDITS:
Presenter: Charlotte McDonald Series producer: Tom Colls Production co-ordinator: Brenda Brown Sound mix: Gareth Jones Editor: Richard Vadon
However one may turn the matter, one cannot discover any reason why an ideological distortion of truth should be more useful to the bourgeoisie than a correct theory.
Original article: https://mises.org/mises-daily/ideological-impregnation-thought
Despite the claims of the chartalists and modern monetary theory advocates, early American monetary history tells a much different story. In fact, much of the historical evidence illustrates Menger’s theory.
Original article: https://mises.org/mises-wire/barter-media-exchange-and-colonial-america
Government corruption isn’t an anomaly. It is part of the system itself. We should expect government to be corrupt. Free markets are the antidote to this corruption.
Original article: https://mises.org/mises-wire/corruption-system
The existence of the arsenal makes the State of Israel ineligible for US aid under US law. This is a problem for US supporters of military and economic aid to the State of Israel.
Original article: https://mises.org/mises-wire/why-us-regime-pretends-israels-nuclear-weapons-dont-exist
The real founders of economic science actually wrote hundreds of years before Adam Smith.
Original article: https://mises.org/mises-wire/true-founders-economics-school-salamanca