John Hood

JHood@thefreemanonline.org

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To Understand Change, Learn History

Today's Economic Challenges Are Really Political

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Marginalism and the Viennese Waltz Offer Striking Parallels

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Book Review

The Triumph of Liberty by Jim Powell

A Fascinating Collection of Brief Biographical Sketches of Champions of Freedom

MAY 01, 2001 by JOHN HOOD

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Capitalism and the Zero

Numerous Financial Innovations Flowed Directly from the Discovery of Zero

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CURRENT ISSUE

December 2014

Unfortunately, educating people about phenomena that are counterintuitive, not-so-easy to remember, and suggest our individual lack of human control (for starters) can seem like an uphill battle in the war of ideas. So we sally forth into a kind of wilderness, an economic fairyland. We are myth busters in a world where people crave myths more than reality. Why do they so readily embrace untruth? Primarily because the immediate costs of doing so are so low and the psychic benefits are so high.
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