Bureaucracy and Regulation

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.

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.

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

"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.

Progressives blame the free market for insulin prices and want to impose price controls. But, government regulation is to blame. 

Wage differences between men and women often are automatically attributed to sex discrimination against women. However, as research has shown time and again, other factors are at work.