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