Myths of the Mixed Economy

The planned economy was all the rage in 1937, when Prentice-Hall published a 1,000-page tome on The Planned Society: Yesterday, Today, Tomorrow: A Symposium by Thirty-Five Economists, Sociologists, and Statesmen. The “question that confronts us today is not if we shall plan, but how we shall plan,” wrote Lewis Mumford in the Foreword. All the contributors—Keynesian, socialist, communist, and fascist—agreed with that point, including such luminaries as Sidney Hook, Benito Mussolini, and Joseph Stalin.

How Not To Dismantle the Caste System

The Indian state has embarked on a campaign to eliminate the caste system by coercing people into associations that they might not otherwise choose. Jayant Bhandari writes that this way will lead to more hatred, social division, and unpredictable disasters. There is only one kind of equality that should be celebrated in a free society, that is, equality before the law, or what Roderick Long calls more broadly “equality of authority.” That kind of equality is exercised through free association.

Should An Economist Analyze Housing?

The conventional wisdom (i.e. what my dad and his buddies would tell me) is that, so long as you have decent credit and plan to stay in the area for a few years, it is crazy not to buy a house (rather than rent) because you can deduct the interest on your mortgage. Especially in the first few years, when you are paying tens of thousands in interest payments, that tax advantage equals hundreds or even thousands of dollars in extra take home pay per month.