Political Theory

The main reason why so many state and local governments are bankrupt, or on the verge of bankruptcy, is the combination of government-run monopolies and government-employee unions. Government-employee unions have vastly more power than do private-sector unions because the entities they work for are typically monopolies. Their days are numbered.

Gold and silver are international commodities, and, when not prohibited by government decree, foreign coins are perfectly capable of serving as standard moneys.

<p>Joseph Schumpeter is smiling while the equity holders of Borders stock are crying.</p>

Voters are faced with bundled choices, they vote infrequently, no individual’s vote will affect the election, voters have little incentive to

[An MP3 audio file of this article, read by Steven Ng, is

Higgs's book is that rare and wondrous combination: scholarly and hard-hitting, lucidly written and libertarian as well.

During his eight years in office, Reagan increased federal spending by 53 percent, added a quarter of a million new civilian government employees, escalated the War on Drugs, created the “drug czar’s office,” and lowered the value of your 1980 dollar to 73 cents.

It is theoretically conceivable but scarcely likely that the ruling class will rush to embrace a philosophy and a political economy that will end t

It is vital — indeed, it is literally a life-and-death matter — that Americans be able to look as coolly and clear-sightedly, as free from myth, at

The advocates of free-market economics almost invariably pin the blame for government intervention solely on erroneous ideas—that is, on incorrect ideas about which policies will advance the public weal.