The Free Market

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Intellectual Cover for Socialism

Philosophy and Methodology

07/25/2019The Free Market
But how can anyone deny that the East German or Russian experience is decisive evidence against socialism? The answer lies in creating a arcane theories that make socialism sound reasonable.
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In Defense of Payday Lending

Free Markets

10/20/2018The Free Market
Banning or restricting payday lending primarily works to limit the choices and freedoms exercised by people with bad credit or low incomes.
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Investors and Austrian Economics

Financial MarketsU.S. History

09/07/2014The Free Market
In recent years, we’ve seen more and more Austrian-tinged economic analysis. There has been tremendous growth in interest in Austrian economics among financial professionals.
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It's the People vs. The Government

Political Theory

02/01/2011The Free Market
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.


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It's the 1930s All Over Again

Big GovernmentU.S. Economy

07/01/2007The Free Market
After the Great Depression hit, there was a general air in the United States and Europe that freedom hadn’t worked well. What we needed were strong leaders to manage and plan economies and societies. And how they were worshiped—disgustingly so!


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Iraq's Phone Monopolists

Monopoly and Competition

01/01/2004The Free Market
With the passage of time, the nature of post-Saddam Iraq becomes clearer, as does the Bush administration's lack of commitment to free-market principles.
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Is Government Really Cutting Taxes?

Taxes and Spending

08/01/2003The Free Market
With more money in their pockets, the president believes Americans will be able to spend more and this will speed up economic recovery. According to President Bush, "By ensuring that Americans have more to spend, to save and to invest, this legislation is adding fuel to an economic recovery. We...
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Is a Bust Better Than No Boom?

Booms and BustsBusiness Cycles

03/01/2003The Free Market
As the Washington Post recently reported, "The Federal Reserve Board has recently waged a vigorous campaign of defense, arguing that it was better to have boomed and busted than never to have boomed at all." Poetic perhaps, but is it sound?
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Inflation as an Economic Drug

Money and BanksMoney and Banking

02/01/2003The Free Market
Late last year, in a move that gives even politics a bad name, the Federal Reserve announced yet another cut in its key interest rates. Around the same time, Fed Governor Ben Bernanke gave a speech praising the power of alchemy to lower the price of gold, and, similarly, the power of the Fed to...
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Is Terror Good for the Economy?

Taxes and SpendingInterventionism

12/01/2001The Free Market
So, knock down the Empire State Building and we can further increase our economic output. Of course Krugman would not want just New York City's economy to grow, so we should also knock down the Sears Tower in Chicago and the Hancock Building in Boston. If this does not revive the economy, we better...
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