Origins of Australian Law & Legal Systems: Part 1 British History

The 18th century in Britain signified the end of the agrarian economy. With new land reforms of the Agricultural Revolution, agriculture productivity had rose due to new crop rotations. While, it had also declined the agriculture share of the labour force, having driven small farmers off the land, seeking work in newly established factory towns. … Continue reading Origins of Australian Law & Legal Systems: Part 1 British History

Is the free market the best form of mechanism to achieve goals in economics?

Ideas matter, in particular a great idea such as liberty, in all its facets – economics, individual, political, philosophical and historical. However, there remain many challenges to liberty, ever-present under our governments. Therefore, today we must retell the lessons of the past Austrian economists and thinkers and look to writers to understand what is happening. … Continue reading Is the free market the best form of mechanism to achieve goals in economics?

Would Keynesian policies be a more viable method to deal with the economic crisis?

INTRODUCTION The Keynesian School of economic thought, was developed in the 1930s by the British economist John Maynard Keynes to understand the Great Depression. The scale of Keynesian theory span across the Atlantic in the post war decades, after its adoption in war-time Britain for macroeconomic management. Comprised of various macroeconomic theories, such as how … Continue reading Would Keynesian policies be a more viable method to deal with the economic crisis?

Memoirs of Extraordinary Popular Delusions and the Madness of Crowds, Mackay Charles (1814-1889)

Article retrieved from: http://www.econlib.org/library/Mackay/macEx3.html  Chapter 3- provides background on the introduction of the tulip bulb: Introduced into Western Europe around the middle of the sixteenth century.   Conrad Gesner claimed to have originally seen the tulip in 1559 Augsburg. The tulip belonged to Councellor Herwart, a famous man who collected rare exotics. Tulips were sought after … Continue reading Memoirs of Extraordinary Popular Delusions and the Madness of Crowds, Mackay Charles (1814-1889)