The Free Market

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Cheers to the Peddler Class

U.S. EconomyU.S. History

10/31/2018The Free Market
The peddler was the middle class man who prided himself on his initiative, self-reliance, independence and, above all, his integrity.


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You Can't Run an Economy With Spreadsheets

Global Economy

09/07/2014The Free Market
Argentina’s economic minister, Axel Kicillof, has become famous for his assertion that it is possible to centrally manage the economy now because we have spreadsheets.
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The Market Process in Action

Free MarketsInterventionism

07/01/2008The Free Market
When you do a lot of driving, $4 gas eats up a pretty big chunk of your disposable income and requires a few adjustments to the way you live. So how does the market coordinate these changes?


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The Mouse that Roared

The EntrepreneurEntrepreneurship

06/01/2005The Free Market
Rothbard shockingly argues that technological invention is relatively unimportant in the progress of civilization. Instead, capital is the far more important, and limiting, factor.
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Mistaken Identity

Free Markets

06/01/2004The Free Market
Popular contempt for the market is distressing. Few institutions are so universally reviled, and perhaps fewer institutions are so universally misunderstood.
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Grit, Grime, and Economic Development

Free Markets

12/01/2003The Free Market
It is not a short step from poverty to prosperity, and the transition itself has long been exploited by opponents of the market economy.
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Roots of the Housing Shortage

Big GovernmentInterventionism

10/01/2003The Free Market
There are few things that reduce the price of a good like an increase in its supply. But the very people who decry the lack of "affordable" housing in New York and other places are often the ones who are most agitated about "overdevelopment." While the idea of "a lack of affordable housing" is...
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Myths of the Crash

Booms and BustsBusiness Cycles

05/01/2003The Free Market
Three years into one of the most severe bear markets in history, the most striking feature of the typical economic discussion is the persistent state of denial about how perilous our situation truly is. Also notable is the unthinking promulgation of a species of economic fallacies which, though...
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The Dangers of Compromise

Free MarketsInterventionismPolitical Theory

11/01/2001The Free Market
The Free Market 19, no. 11 (November 2001) Many "pragmatic" right-wingers criticize libertarians for attempting to be too ideologically pure. "Look," they say, "we want a freer society as well. But your radical proposals will never be enacted, and they just turn off moderates." Or we hear, "If you...
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What is an Externality?

Value and Exchange

08/01/2001The Free Market
British economist A.C. Pigou was instrumental in developing the theory of externalities. The theory examines cases where some of the costs or benefits of activities "spill over" onto third parties. When it is a cost that is imposed on third parties, it is called a negative externality. When third...
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