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Author Archive | Nicholas Freiling

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Economics as Religion: The Paradox of Self-Interest

By on March 11, 2013 in All Posts, Economic Theory, Economics in Media
Over the next few weeks, I will be live-blogging Robert H. Nelson’s Economics as Religion. Though the book is somewhat dated (published 2001), its discussion is still relevant. This is the first post in this series. Hope you enjoy! Introduction: The Market Paradox The role of self-interest in economic growth is a paradox. Of course,…
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Waging War on Work

By on February 11, 2013 in All Posts, Economic Theory
This piece was originally published by the Ludwig von Mises Institute on February 11, 2013. Employment law is a mainstay of state economic policy. Few question its efficacy as a means to correct “market failures”—like unlivable wages for meaningful work—that would leave society in shambles. In fact, no serious debate exists among American policymakers about…
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In Praise of Speculators

By on December 5, 2012 in All Posts, Economic Theory, Finance
This article was originally published at Values and Capitalism. In recent years, the purported effect of oil speculators in raising the price of oil has sparked much debate and concern. Pundits of various political bents have sought an explanation for the rising price of oil among the activity of speculators, and legislation has recently been…
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Banknotes and fractional reserve

By on July 2, 2012 in All Posts, Economic Theory, Money
Economist Larry White at George Mason University submitted a thought-provoking written testimony the other day. Discussing the issue of fractional reserve banking before the House Subcommittee on Domestic Monetary Policy and Technology, he made the following claim: For payment by account transfer, FRB offers a more economic way of providing payment services. A money warehouse…
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