Free Markets

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Remembering the Great Henry Hazlitt on His Birthday

CapitalismEconomic FreedomFree Markets


Henry Hazlitt, a great champion of liberty and Austrian economics, was born on November 28, 1894. His most famous book, Economics in One Lesson, remains a best seller thirty years after his death.

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Private Medical Care STILL Is a Better Deal Than Government Care

Bureaucracy and RegulationEconomic PolicyFree MarketsHealth


Americans are constantly told that Europeans have wonderful medical care provided by their governments. In reality, private care is gaining ground because it provides better care and a better deal.

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Fear of Failure is Vital to the Success of a Free Market Economy

Corporate WelfareThe FedFree MarketsStrategy


What lies behind the attempt to bypass fear of failure is the perceived lack of any substantial cost to failure. The illusion lasts only for so long before economic reality prevails.

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Blaming the Free Market (Even Where It Doesn't Exist)

Bureaucracy and RegulationFree MarketsHealthPrice Controls


Nobel Prize winner Angus Deaton claims that the free market cannot provide adequate medical care. Of course, he goes on to describe government failure but calls it a free market.

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The False Framing of Protectionism

Economic PolicyFree MarketsProtectionism and Free TradeU.S. Economy


Protectionists falsely claim that free trade provides only negative consequences to the economy while simultaneously claiming protectionism provides net benefits.

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Even Though They Are in Long-Term Decline, Labor Unions Still Threaten the Economy

Economic PolicyFree MarketsLabor and WagesMedia and Culture


Although the percentage of the unionized U.S. workforce has fallen in recent decades, labor unions still are a threat to our economy and our collective wellbeing.

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The Central Bank Policy Interest Rate vs the Natural Rate

Central BanksEconomic PolicyThe FedFree Markets


While central banks use administered interest rates in hopes of emulating the natural rate, these efforts are always going to fail. Without free markets, there is no natural rate.

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Regulation in the Free Market: It’s Not What Most People Believe

Bureaucracy and RegulationEconomic FreedomFree Markets


Can a government regulatory system be reformed? In a word, no. The free market is always the best regulator of quality and safety.

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Is the Monopoly Board Game Like Real Markets?

Economic FreedomFree MarketsMedia and CultureEntrepreneurship


Many people believe that the board game Monopoly, developed during the Great Depression, mimics a real-world capitalist economy. Monopoly is a game, not real life.

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