Left alone, the market always allocates resources to the highest bidder i.e., to their most highly valued uses and through this process of investment and reinvestment, capital is accumulated and the marginal productivity of labor increases. Thus when the market remains free, wages and living standards are seen to continually increase as well.
The word efficiency as used by government has been demoted from a useful analytical term to little more than another warning to watch your wallet.
It is not a coincidence that an increasing percentage of child migrants to the US border are from areas devastated by the American drug war, writes
Stiglitz wants to revitalize industrial policy through greater government intervention to favor certain technologies over others, writes Stewart Dompe and Adam C. Smith.
An increasing percentage of migrants to the US-Mexican border are from Central American countries. It is not merely a coincidence that these same areas have been devastated by the American war on drugs, which has destroyed economies and increased crime in much of the region.
James Bennett discusses his new book on federal mandates with the Mises Institute.
Summary By Luis Rivera III: Many people are under the false impression that the oil spill that occurred in April of 2010 was due to a lack of regul
In a free-market economy, firms threatened with competition often respond by searching for ways to increase efficiencies, attempting to lower costs
In a free economy, firms threatened with competition often respond by searching for ways to increase efficiencies and improving on economies of scale and scope.
