Interventionism

The corn, sugar, and ethanol industries in the US are all part of a complex system of government subsidies and other favors, writes Dave Albin.

While the state supports of industry may have seemed like gifts at the beginning, the distorted framework of the government-directed economy makes everyone worse off.

The poverty rate is not declining, and people continue to buy and sell drugs.

Labor unions work to prevent increases in the productivity of workers, which is ultimately the only way to increase real wages, writes George Reism

Not content with just the movie industry, the US government has also turned to the video game industry in more recent decades.

The cognoscenti behind the Bush (Campaign 2000)  proposal call their plan “privatization.” Privatization, as typically understood by economists, means the transfer of capital ownership and resource allocation

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,”