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The art of economics consists in looking not merely at the immediate hut at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups—Henry Hazlitt

Showing posts with label function of money. Show all posts
Showing posts with label function of money. Show all posts
Monday, October 01, 2012

Bastiat on Why Protectionism Fails: Money is Not Wealth

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One of the fundamental flaws of protectionism have been to mistake money, which is a medium of exchange, for wealth. Thus, the obsession by...
Sunday, January 18, 2009

A Primer On Stock Markets-Why It Isn’t Generally A Gambling Casino

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This article is dedicated to my friends at RC Mandaluyong . People normally bear the misimpression that stock markets function as some v...
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