Fundamentals
Individual Merit: What It Means and How It Differs from Meritocracy
Individual merit helps us value actions, abilities and effort, but it does not automatically turn success into proof of desert.
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Chronological archive of Libertatis Venezuela publications. Here you can review every published article without filtering by category.
Fundamentals
Purchasing Power Parity: What It Is and What It Is For
Purchasing power parity makes it possible to compare how much different currencies can buy after adjusting for price differences across countries.
Fundamentals
Liquidity: What It Is and Why It Is Not the Same as Solvency
Liquidity measures whether money can be available on time and without major losses. It is not the same as having assets, profits, or a temporarily healthy cash balance.
Fundamentals
Limited Constituent Power: What It Means and What Its Limits Are
Constituent power does not always face the same limits: amendment power is legally bounded, while the limits on original constituent power remain debated.
Fundamentals
Business losses: what they are and how to interpret them
A business loss is a negative result that should be read together with its causes, recurrence, cash impact, and ability to be corrected.
Fundamentals
Bare ownership: what it is and how it differs from usufruct
Bare ownership is title to an asset whose use and enjoyment belong temporarily to a usufructuary.
Fundamentals
Competitive Market: What It Is and How It Works
A competitive market limits each participant's power through rivals, substitutes, and entry, without requiring the ideal conditions of perfect competition.
Fundamentals
What Limits Legislative Power and Why a Majority Cannot Decide Everything
Legislatures can make and amend laws, but they must still respect the Constitution, rights, their competences, and the required procedure.
Fundamentals
Civil Liberties: What They Are, What They Include, and Why They Matter
Civil liberties protect spaces of autonomy and participation against arbitrariness, but their exercise and limits depend on concrete legal safeguards.
Fundamentals
Personal Integrity: What It Is and How It Differs from Honesty
Personal integrity is the consistent alignment of principles, judgment, and conduct, especially when doing so comes at a cost.
Fundamentals
Demand-pull inflation: what it is and how to tell it apart
Demand-pull inflation appears when aggregate spending grows faster than the economy's sustainable capacity to produce goods and services.
Fundamentals
Cost-Push Inflation: What It Is and How It Works
Cost-push inflation begins when production becomes more expensive or more difficult, but the pass-through to prices can be partial, temporary, or persistent.
Fundamentals
Economic Innovation: What It Is, How It Creates Value, and Why It Matters
Economic innovation turns a meaningful improvement into a product or process that is actually used. Its value depends on adoption, not novelty alone.
Fundamentals
What Core Inflation Is and Why It Matters
Core inflation is designed to show the more persistent trend in prices by reducing the influence of some volatile movements.
Fundamentals
Political Individualism: What It Is and How It Differs from Other Doctrines
Political individualism starts from the person as the reference point for justifying power, protecting rights, and evaluating institutions.
Fundamentals
Methodological Individualism: What It Is and Why It Matters in the Social Sciences
Methodological individualism explains collective phenomena by connecting them to people’s actions, motives, incentives, and interactions.
Fundamentals
Ethical Individualism: What It Is and Why It Is Not the Same as Egoism
Ethical individualism places concrete persons at the center of moral consideration, but it does not say that each person should think only of themselves.
Fundamentals
What a Mortgage Is and How It Works
A mortgage ties a property to the performance of a debt. Understanding how it differs from the loan helps you assess its usefulness and its risks.
Fundamentals
Representative Government: What It Is, How It Works, and Its Limits
Representative government organizes public decisions through representatives, institutions, and procedures subject to citizen oversight.
Fundamentals
What Is Capital Formation and Why It Matters
Capital formation turns present resources into future productive capacity. Knowing its different meanings helps avoid confusing investment, financing, and real growth.
Fundamentals
Federalism: What It Is and How It Distributes Power
Federalism constitutionally divides power between a common government and territorial units with their own powers.
Fundamentals
Political Fallibilism: What It Is and Why It Matters in an Open Society
Political fallibilism starts from a simple idea: rulers, experts and citizens can be wrong, so power must remain open to criticism and correction.
Fundamentals
Stagflation: What It Is and Why It Is So Hard to Fix
Stagflation combines high inflation with weak economic activity. Understanding its causes shows why it does not have a simple fix.
Fundamentals
Government by Consent: What It Means and Why It Matters
Government by consent holds that political authority must derive from those subject to it, but that principle does not make every state decision or majority decision legitimate.