The less agile and adaptive a society is, the more severe its impotence in a crisis. Thanks to an obsessive reliance on monetary policy to fix every problem, our society has increasingly abandoned innovation and productivity.
The US and the world will rise from this crisis. What the government has to do is allow it. The government is there to facilitate, not to pick winners and losers.
Finn Kydland and Edward C. Prescott (KP), the 2004 Nobel laureates in economics think that technological shocks can explain 70 percent of economic fluctuations in postwar US data. Unfortunately their quantitative methods are simplistic and ignore the real problem: central banking.
Ludwig von Mises begins by recounting the origin and semantics of the term welfare state.
After an old red barn was given "heritage protection" by the city council, the owner demolished it anyway. Many townspeople cheered the defiance of the council's blatant violation of property rights.
Government spending overall—not just deficits—is the real problem. Government spending diverts wealth away from truly productive people and toward the government and its favored groups.
The Fraser Institute's Economic Freedom of North America report provides the method of evaluating the economic freedom of Brazilian states. Results suggest that Brazilian states' freedom scores have been declining.
Pascal Salin investigates the contrast between French collectivism and it production of liberal intellectuals.
How much licensing requirements are designed to “protect” the health of the public, and how much to restrict competition, may be gauged from the fact that giving medical advice free without a license is rarely a legal offense. Only the sale of medical advice requires a license.
