Special-interest-group pleading often tries to hide behind supposedly economic arguments. It is important to debunk such arguments as they arise so that the interest group politics can be seen for what it is. In the spirit of Bastiat's Economic Sophisms, Gene Callahan offers the following.
Gregory Bresiger offers his compassion for the regulatory Quixotes, and says that it is time to think the unthinkable: Forget about the system of regulation; consign it to the garbage bin of history. Close down the SEC, along with myriad other regulatory bodies.
For those who have not flown commercially in since last September are in for a rude awakening, writes William Anderson. You will face the insanity that passes for modern airport security, even as airline travel is as vulnerable as ever. And if you believe things might improve, think again.
Ask farmers in China, and they will tell you that the really bad apples don't come from Washington state. The bad apples come from Washington, D.C. That's because, just as with steel, our government recently imposed rules designed to drive out foreign apple producers. J.C. Robbins explains.
Despite its great appeal because of its simplicity, the supply-demand graphic as employed by mainstream economics is a tool that is detached from the facts of reality. The real-world economy is far too complex to be faithfully rendered on simple graphs that take no account of uncertainty, entrepreneurial speculation, and the ceaseless change of the market economy.
In the real world, human action can only manifest itself through material objects; man must utilize the resources that nature gives in order to employ means. If man desires to live, he must obtain food, shelter, and other physical necessities. On the most fundamental level, to exist in this universe, man must occupy space.
Many Americans probably feel that eating Chilean fruit costs America jobs. Think of the jobs that could be created, goes their argument, if laws prevented Americans from buying Chilean fruit. At the very least, we should all “buy American.” What a boost to the economy, huh? Wrong!
There are some people who think that leaving the setting of many of the terms of California's energy trade to politicians and bureaucrats constitutes a substantially regulated, not a deregulated, energy market. Just because there were some aspects of this trade that were removed from the province of California's government, it does not follow that the market was deregulated--meaning, set free.
Amtrak was sold to taxpayers back in May 1971 as something that would be superior to privately owned passenger railroads, and with the promise that the government would make money running trains. That's something Amtrak has never done in its sorry history. Indeed, it has never once even come close to breaking even, nor does it have any prospect of doing so in the future.
No one forms a firm by acquiring resources for the firm at gunpoint. No one becomes an employee of a firm through conscription or forced labor. Firms are formed, and people join firms, as part of a process of voluntary cooperation that we usually refer to as the market.
