Up with Vietnamese Catfish
Here is an archetype of disgusting protectionism — benefiting special interests, pillaging consumers, and impoverishing foreigners.
Henry Hazlitt, Literary Critic
Henry Hazlitt was a man who wore many hats, including that of a serious critic of literature.
The Elite under Capitalism
Knowledge and Markets: a Lesson from McDonald’s
I write this from the playground at a McDonald’s just off of Interstate 81 in Harrisonburg, Virginia, where we’ve just finished a predictable McDonald’s lunch and are burning some restless energy before getting back in the car. It has me thinking about some of the most important implications of free markets: we don’t have to know one another’s goals in order to help one another achieve them, and even when we may not fully understand why other people do something, there’s probably a good reason for it.
The Ash Heap of History
For over half of a millennium, the lands encompassing present-day Ethiopia and portions of both Sudan and Somalia have been a source of deep and abiding mystery.
What’s Not to Like about a Regulatory Nudge?
Cass Sunstein is so anxious to push his theory of government that he distorts the reality to conform to his dreams.
The Power to Fax
The fax machine was like the Star Trek transporter. Documents were being “beamed.”
Subjective-Value Theory
Value is in the eye of the beholder, and hence voluntary trades are win-win activities.
The Heat Is On!
With summer upon us and temperatures rising, we should stop and thank our lucky stars for air conditioning — and wish upon the same stars that government won’t destroy it, because it seems to be trying to do so.
The EMU as a Self-Destroying System
[Excerpted from Tragedy of the Euro (2010)]
When property rights in money are poorly defined, negative external effects develop. The institutional setup of the euro, with its poorly defined property rights, has brought it close to collapse and can be called a tragedy of the commons.1
