Healthcare in Canada is not free. Constantly full waiting rooms and long waits for procedures are not an unavoidable fact of life but a product of a "priceless" supply system, where waiting for service acts as a rationing substitute for the market price.
Rothbard explains that it is not enough to read an author's work. You have to understand his intentions, which means that you have to understand who he's talking to, who his friends are, who his enemies are, and who he's reacting against.
One by one, Mises discusses and dispatches the pillars of progressive dogma: government spending can create jobs for the unemployed; the service motive is better than the profit motive; government choices are superior to individual choices.
One does not need to be a Brookings Institute scholar— specializing in "oil dependence, electric vehicles, and climate change" — to see why no one will willingly purchase an all-electric car, much less the one million that President Obama wants on the nation's highways in five years.
Some people are saying that all we need is optimism, as if our attitudes alone cause and fix the business cycle, and as if the real world doesn't matter at all. Actually, the "bad attitudes" of consumers and producers are the real fix: they lead to deleveraging and saving.
F.A. Hayek, in a forgotten article from 1941, observes the tragedy that "men of science and engineers" may "frequently be found leading a movement which in effect merely serves to support the unholy alliance between the monopolistic organizations of capital and labor."
Groupon is a brilliant concept that uses social networking to mobilize shoppers and bring down prices. In contrast to all the mainstream economic models of "market failure," Groupon is yet another example of market success.
Shostak suggests that the NBER's definition does not provide an explanation of what a recession is all about. Instead it describes the various manifestations of a recession. And this is precisely what is wrong with it.
Pictures of the Socialistic Future tells an engrossing story about a socialist paradise that swiftly degenerates into a societal dungeon. It was originally published in an English translation in 1893—which adds immeasurably to its resonance.
Friedenberg was among those who regarded US participation in the Vietnam War as an abomination. He had begun expressing his outrage in print in the mid-'60s, though most of it was directed at American public schools rather than at American foreign policy.
