It is sad that the contemporary American university has sunk so low from the heights of medieval Oxford, Cambridge, Paris, and Salamanca. Fortunately, private alternatives are still available.
The most important insight of the Fed's move to increase its inflation target is this: central banks don't much like to follow "rules." They make the rules.
Economists who have written on punishment find Rothbard's “double restitution” idea puzzling, because they think about it only in terms of economic efficiency. But Rothbard's theory is based on a moral principle.
