Production Theory

A federal judge rules: No drilling allowed. Tibor Machan explains why this is not a "victory for the California coast." 

In 1920, Ludwig von Mises gave the first full explanation why collective ownership of the factors of production leads to economic chaos. Dan Mahoney restates Mises's position.  

Polls say people want both prosperity and unlimited environmental amenities. Sometimes, however, you must make a choice. David Laband explains.

Citing railroads, the TVA, and interstate highways, Michael Kelly of The Atlantic Monthly says government has done wonders for us. Tibor Machan raises the question: At what cost?

Former Clinton economist Laura D’Andrea Tyson continues her campaign against the free market, this time calling for price controls. William Anderson straightens her out.

Roger Garrison’s long-awaited book compares and contrasts Austrian business cycle theory with a number of other approaches, 

Will the free market underproduce roads? Not a chance. Chris Westley explains how government intervention causes traffic congestion. 

The teachings of Carl Menger and Ludwig von Mises offer the answer to those who say we should dismantle civilization to meet the supposed needs of nature. A very powerful speech by George Reisman.

Interventionism is often justified on grounds of "efficiency," as defined by judges and economists who have no stake in the outcome of disputes over property rights. Gene Callahan explains the Austrian view.

A repeal of the inheritance tax would help everyone, even those like this author who are not likely to be taxed under present law. George Reisman makes the case.