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JW Rich
JW Rich

58 Followers

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Aug 16

The Tipping Point of the Business Cycle: An Examination

One of the most examined and discussed topics in all of economics is the infamous, dreaded business cycle. The pattern it displays is a familiar one: first a boom where the economy is strong, and then a sudden and unwelcome bust that severely weakens the economy. Despite the copious amount…

Economics

10 min read

The Tipping Point of the Business Cycle: An Examination
The Tipping Point of the Business Cycle: An Examination
Economics

10 min read


Jun 20

A Defense of the Time Preference Theory of Interest: A Response to Machaj

The economic question of interest is the most persistent topic of debate in the history of economic thought. From debates on its legitimacy amongst the scholastics to the modern divisions on its ultimate source, it seems as if the topic of interest will never be quite “settled science”. Even among…

Economics

11 min read

A Defense of the Time Preference Theory of Interest: A Response to Machaj
A Defense of the Time Preference Theory of Interest: A Response to Machaj
Economics

11 min read


May 26

Interest Rates and “Roundaboutness”: A Response to Hulsmann

In his paper, “The Structure of Production Reconsidered”, Dr. Guido Hulsmann challenges the Austrian School orthodoxy on the question of capital theory and roundaboutness. The majority of Austrians since Eugen von Bohm-Bawerk have held that as interest rates decrease, and higher levels of investment are thereby induced, the economy as…

Economics

12 min read

Interest Rates and “Roundaboutness”: A Response to Hulsmann
Interest Rates and “Roundaboutness”: A Response to Hulsmann
Economics

12 min read


May 2

A Reevaluation of the Subsistence Fund

While storied to some, and archaic to others, no one can deny the long history of the subsistence fund in the lineage of economic thought. It was utilized by nearly all the classical economists including Adam Smith, David Ricardo, and John Stuart Mill. As the years have progressed, however, the…

Austrian Economics

13 min read

A Reevaluation of the Subsistence Fund
A Reevaluation of the Subsistence Fund
Austrian Economics

13 min read


Mar 23

Notes on Time Preference

The concept of “time preference” is crucial to the study of economics. The concept itself — of preferring present satisfaction to future satisfaction — is not just a common feature of human psychology, but ingrained in the Praxeological framework of the human mind. Human beings act; they utilize means for…

Economics

9 min read

Notes on Time Preference
Notes on Time Preference
Economics

9 min read


Feb 23

Libertarianism and Secession

Is there a Libertarian right to secession? The majority of Libertarians would answer in the affirmative. Moreover, Libertarians have historically been supportive of secessionist movements all over the world, including many current secessionist or secession-lite movements, such as “Brexit” in the United Kingdom and the “Texit” or “Cal-Exit” movements in…

Libertarianism

7 min read

Libertarianism and Secession
Libertarianism and Secession
Libertarianism

7 min read


Feb 8

Libertarianism and Order: A Response to Curtis Yarvin

On January 11, 2023, Michael Malice hosted a debate on his podcast “Your Welcome” between Curtis Yarvin and Dave Smith. The subject of the debate was Libertarianism. Smith argued for and Yarvin argued against. I found the debate very thought-provoking, especially given that Yarvin has the perspective of being a…

Libertarianism

6 min read

Libertarianism and Order: A Response to Curtis Yarvin
Libertarianism and Order: A Response to Curtis Yarvin
Libertarianism

6 min read


Jan 30

How Carl Menger Started World War I

Carl Menger was the founder of the Austrian School of Economics, one of the central figures of the Marginal Revolution, author of “Principles of Economics”, and one of the foremost European scholars of his day. What follows is the story of how he (indirectly) started World War I. Very early…

World War I

6 min read

How Carl Menger Started World War I
How Carl Menger Started World War I
World War I

6 min read


Jan 16

The Fallacies of the “Public Goods” Argument for the State

One of the foremost arguments in favor of the existence of the state is the consequentialist argument. This argument posits that the state’s actions in society are justified because they make society a better place — or in more proper terms — increase society’s total welfare. While not always formally…

Libertarianism

10 min read

The Fallacies of the “Public Goods” Argument for the State
The Fallacies of the “Public Goods” Argument for the State
Libertarianism

10 min read


Jan 1

A Review of Every Book I Read in 2022

Over the course of 2022, I read approximately 37 books. I say approximately because it is completely possible (and completely probable) that there’s one or two that I read this year but forgot about, or incorrectly assumed I had read it in a previous year. Regardless, below is a short…

Reading

12 min read

Reading

12 min read

JW Rich

JW Rich

58 Followers

Alleviating uneasiness one end at a time.

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