Production Theory

Are economic downturns caused by falling demand? No, this is only a symptom of a structural problem, says Frank Shostak.

Deepak Lal, a distinguished development economist, might have entitled this book The Rise and Future Decline of the West. In his view, the nations of Western Europe first discovered the secret of economic prosperity. 

Statism was the primary theme of this year's election. The political issues of the day were all approached from the interventionist point of view. For George W. Bush and Al Gore, it was not a matter of whether government should be running a social security scheme or not. It was only a matter of how government might save it.

Regulations don't consider that safety is not an absolute value that automatically trumps all others, writes Gene Callahan.

As usual, the rich are taking a beating this election season. But Lew Rockwell argues that they are the foundation of prosperity and a most precious asset.

Cities that ration water use are punishing consumers for a failure of the system of distribution.

Benjamin Tucker wrote that "Power feeds on its spoils, and dies when its victims refuse to be despoiled."

Email is supplanting regular mail and the Postal Service is fighting for its life--at its customers' and competitors' expense.

The Firestone/Ford debacle is being used to spread the oldest myths in the anticapitalist lexicon.

The sequencing of the human genome is yet another victory for private enterprise over central planning, writes Lew Rockwell.