Bureaucracy and Regulation

US coins in circulation get damaged and are eligible to be redeemed through the US Mint Mutilated Coin Redemption Program, begun in 1911.

The great free-market classical liberal William Leggett believed that Americans do not need politicians telling us on which days Americans ought to be thankful.

Critics of free markets claim that the 1980s and 90s were near-pure laissez-faire when, in reality, the regulatory state only got stronger. 

As Joseph Schumpeter noted, markets need “creative destruction” to survive and advance. However, Europe‘s Digital Market Act (DMA)—while written to ostensibly protect competition—gives the digital economy uncreative destruction.

Murray Rothbard wrote that egalitarianism is a “revolt against nature.” Progressives claim that inequality harms society and is morally unacceptable, but in reality, it is necessary for division of labor, which enables social cooperation.

"Hurry up and wait" is often the reality of medical care. We shouldn't be surprised to know that long lines and government intervention go together.

Those carrying out government directives are even less bound by law than they were a few years ago, and talk about new bureaucrats is beginning to resemble the Kremlinology of the Cold War.

Most economic analysts predict that the US is about to enter into a cyclical recession. Even Austrian School economists (like me) agree.

Washington has wielded the sanctions weapon against nearly a third of all nations on earth. It is time to rethink these policies, and one hopes the incoming Trump administration will do just that and change course.

One of the most popular economic fallacies of our time is the belief that the absence of a minimum wage would lead to limitless exploitation of employees in the economy.