At the Mises University, George Reisman explained why many countries often thought to be socialist, either now or in the past, such as Sweden, Israel, and Britain under the old Labor Party, should be thought of as hampered market economies instead. For production in those countries characteristically takes place, or did take place, at private initiative, motivated by private profit.
Since 9-11, many commentators have asked question: can the West can really ever be at peace with Islam? If the cooperative spirit of the market economy prevails, the answer is yes. An example is Malaysia, which defies the stereotype. It shows what peace is possible when governments permit market exchange and freedom of cultural contact, while avoiding imperial overreach and belligerence.
Sumner was referring to the seemingly endless attempts to harness the power of the State to further one's own ends at the expense of other people. All human types—generals, millionaires, priests, scholars and so on—have made these attempts. The disease is not confined by race, color or creed, by age or occupation, by democracy or dictatorship. The desire to live at the expense of other men is a constant theme that runs through all of human history.
Some rich people have gained notoriety by publicly volunteering to forego a tax cut or to pay more in taxes to support spending on their favorite government programs.
Former President Clinton is a prime example. The implication is that rest of us are selfish. In fact, their statements do not make them Mother Teresa.
Scott Trask shows that the period of the Articles of Confederation was not characterized by chaos and increasingly bad economic times, as historians tend to assume. Rather, the Articles proved themselves to be a perfectly viable structure for a free society, encouraging trade and prosperity and adherence to the highest ideals of 1776—until the mercantilists and nationalists overthrew it.
Christopher Westley formulates his own law of economics, which highlights how consumers apply much lower standards to government output, no matter what it is, than they do to the output that results from private markets. How else to explain hysteria about market failure and corporate mis-behavior as compared with unending government government failure?
Machan is interviewed for television on a huge range of questions concerning the efficacy of capitalism and the free society. Only a smart part appeared on the broadcast. Here is the entire tour de force: everything you wanted to know about economic freedom from one of its most prolific defenders.
The tragedy of mercantilism is that it tends to creep up when it can do the most damage, that is, during economic downturns. Sure enough, the US is experiencing a wave of protectionist sentiment, legislation, and action, some of it supported by the supposed friends of free trade. Let us begin the round up.
"Social responsibility" is out. Richard Teather explains that activists are demanding even more: corporate citizenship. This concept demands that a company's whole actions be carried out with regard to their "social impact" as interpreted by unions, environmentalists, poverty campaigners, and other non-profits. Of course, and mainly, it also means big donations to their organizations.
In one democracy you vote but every other year for candidates (who may not win) to "represent" you and many others indirectly on myriad issues. In the other, you vote daily, often, directly, for specific vendors, goods, or services, in an endless plebiscite going on every minute of every day, with dollars as ballots.
