Greek Debt was a Two-Way Deal
By Philippe Gastonne     
News stories about the Greek crisis constantly return to a familiar refrain. The country's politicians and citizens alike borrowed unwisely, spent too freely and now don't want to pay their debts. This impression isn't wrong, but it misses half the story. Loans are always two-way transactions. One party lends and the other one borrows. Both sides take risks and both sides receive benefits. Lenders know – or should know – that it is always possible the borrower could default. They are supposed ...
A Declaration of Independence from Big Government
Editorial by Richard Ebeling     
Many forms of personal liberty are under attack today, from economic regulations that hinder people from their peaceful pursuits of ...
When War is the Only Option
Staff News & Analysis     
The world might not need diplomats if it had no nation-states. Since we do, they serve the valuable function of lubricating relations ...