Murphy Battles Anti-Market Economics and Ethics

Robert Murphy’s admirable book is much more than a conventional defense of capitalism. Murphy includes standard material, e.g., why price controls, minimum wage legislation, and rent control do not work. Though it was once controversial to point to the inadequacies of these measures, now even mainstream textbooks hasten to condemn them. Murphy goes far beyond this. He takes on the most difficult and controversial challenges to the free market, and offers convincing responses to them. FULL ARTICLE

The Difference between a Liberal and a Radical

Albert Jay Nock, writing in 1920, spells out the difference between a Nation-style liberal and a Freeman-style radical. “The liberal believes that the State is essentially social and is all for improving it by political methods so that it may function accordingly to what he believes to be its original intention.... The radical, on the other hand, believes that the State is fundamentally antisocial and is all for improving it off the face of the earth”

“We have a technology called the printing press...”

From a Fed press release:
The Federal Reserve on Friday announced two initiatives to address heightened liquidity pressures in term funding markets. First, the amounts outstanding in the Term Auction Facility (TAF) will be increased to $100 billion. The auctions on March 10 and March 24 each will be increased to $50 billion--an increase of $20 billion from the amounts that were announced for these auctions on February 29.

We Don’t Need a President

Neither party will cut government in a way that is desperately needed. Instead, they offer a left- or right-tinged Americanized socialism or fascism. One promises domestic expansion and foreign reduction; the other promises foreign expansion and domestic reduction. The inevitable compromise: expand both domestically and internationally. In addition, whatever the new president does will make our growing economic problems worse. The economic interventions they propose will add to our troubles, whether that means expanding inflation, taxes, controls, or debt. Another war is unthinkable, but probably inevitable. You can already detect it in the aggressive trajectory towards Iran. More business regulation can only dampen the fires of free enterprise, which are our saving grace today. The best solution would be a government that would destroy itself. The second best solution would be a government that does nothing at all – then, at least, matters will not get worse. This is what canceling the election would do. It would introduce enough confusion and chaos to keep government from acting either domestically or internationally, which would be a wonderful thing.
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