Had the United States pursued a policy of economic freedom with respect to energy production over the last thirty years, the conditions for OPEC’s success as a cartel would never have been present in the first place.
The recent World Trade Center disaster may provide some economic opportunities for small, select groups, but the vast majority of people—including most New Yorkers—will be left worse off than before.
In a usual wartime situation, the government massively expands and then falls back only partially after it is over. The present circumstances, however, are even worse than wartime.
The opponents of liberty are always ready to shift their ground, no matter how often they are refuted with evidence and argument-a fact that makes the task of showing their errors no less necessary.
Charging $4, $5, or even $100 for a gallon of gasoline is not a crime; rather, it is a logical response to what buyers and sellers perceive to be the current market situation.
Capitalism is about “laboring the earth” more fruitfully so that fewer men go needy, so that the next fanatic finds less willing recruits, so that amid bustling commercial intercourse, barriers of class and race and ignorance are dissolved into mutual respect and benefit.
The absence of capitalism would reduce us to barbarism and utter poverty.
The most important book in the history of economics was first published more than two and a half centuries ago, but this brilliant work by Richard Cantillon remains a must-read for professional economists and laymen alike.
The Organization for Economic Co-operation and Development says it wants to eliminate tax havens because their practices are harmful, if not criminal. What it really wants is to eliminate tax competition.
In a market economy, marginally "superior" technology-where it can be objectively defined-doesn't necessarily end up dominating, and that's the way it should be.
