Our analysis shows that Mises’s critique of “confiscatory interventionism” is the appropriate paradigm for interpreting events in the American economy during the last third of the twentieth century.
To build a roads system, an administrative price mechanism—commercialization—may yield some solutions to the problems of public roads but it gives rise to other problems
Bureaucracy may denote either a means of management, or a particular kind of organization. Characteristics of such organizations include the existence of a discretionary budget
George Selgin and Lawrence White have sought to tie their modern free banking school to the views of Ludwig von Mises. Whatever the validity of their own views on the gold standard
Yergin and Joseph Stanislaw have produced a book that is fundamentally optimistic that markets will continue to be the driving force behind world events, and that price decision-making will eventually prevail over political decision-making.
The Bias Against Guns is overall a less technical book than More Guns, Less Crime, but in its later chapters, quite a few portions are still way over the heads of most laypersons.
It is within the bowels of government where the real yes-men problem lies. Here, there is no automatic feedback mechanism of the market to rely upon, to quell any incipient tendencies in the direction of yes-manning.
The notion that so-called asymmetric information is a source of market failure is deeply flawed. Asymmetric information is essentially a synonym for “the division of knowledge (and labor) in society,”
The authors’ proposed solutions are interesting but ultimately disappointing. Laudably, they do call for what they believe to be the privatization of urban transit.
