The Free Market

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How Carl Menger Put Consumers at the Center of Economic Science

Calculation and KnowledgeHistory of the Austrian School of EconomicsValue and Exchange

09/07/2014The Free Market
The economics profession acknowledges Menger’s place due to his contribution to the Marginalist Revolution in the 1870s, it otherwise ignores him because his theoretical framework does not lend itself to policy prescriptions.
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Lilly Ledbetter Re-considered

Big GovernmentInterventionism

05/02/2013The Free Market
The real problem in our current regulated market is that due to government intervention in a cartelized tire industry, we now pay more for tires and there are fewer of them.
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May2013_0.pdf

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The Folly of Stimulus

Booms and BustsBusiness Cycles

02/01/2008The Free Market
The problem for free-market economists is that their policy recommendations at the dawn of recession are not too sexy to the political mindset. They involve either doing nothing to hinder price adjustments, or actively removing extra-market barriers to price adjustments that already exist. This...
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feb08_0.pdf

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Do Capitalists Prey on the Poor?

Free MarketsInterventionismPrices

09/01/2006The Free Market
The poor are able to acquire household items that in some cases no one, rich or poor, could have had even a generation ago, and on terms that no one else is willing to extend to them.
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Sept06_0.pdf

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The End of Unions

InterventionismPrices

09/01/2005The Free Market
Those of us who appreciate liberty, voluntary exchange, and workers’ property rights to their own labor have long objected to the American organized labor movement. Since the 1930s, this movement has been defined by the AFL-CIO.
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The Ultimate Fallacy

Big GovernmentInterventionism

03/01/2005The Free Market
Many economists mistakenly believe taxation can be good for economic growth, that war can buck up prosperity, and that even natural disasters can spur wealth creation by causing people to spend. All of this is fallacy because it fails to consider the costs of destruction, the alternative use of...
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The Crime Wave That Wasn't

Legal System

10/01/2004The Free Market
Last year, the governor of Alabama proposed and then overwhelmingly lost a bitter referendum to increase taxes and boost revenue. Voters rightly saw the campaign as a slick attempt to expand the public sector’s power, prestige, and wealth transfers by increasing the degree of legal plunder in...
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How Bush Busted the Budget

Taxes and Spending

03/01/2004The Free Market
The Washington Post’s Jonathan Weisman recently scored a front-page story about President Bush that would have galvanized DC conservatives three years earlier if the same words had been written about President Clinton.
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Monetary Mendacity

Booms and BustsThe FedBusiness Cycles

12/01/2002The Free Market
The Free Market 20, no. 12 (December 2002) There are many characteristics that Alan Greenspan shares with Benjamin Strong, the New York Fed president during the 1920s. Both decided US monetary policies during eras of massive, unsustainable growth in the business cycle. Both played major roles in...
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The Non-Crime of Price Gouging

Free Markets

10/01/2002The Free Market
A Days Inn on Long Island was fined on December 26, 2001 for having engaged in “price gouging” following the September 11 terrorist attacks. With the nation’s airports closed, stranded passengers created a sudden and unexpected rise in demand for lodging.
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