Free Markets

Ludwig von Mises differed with J.M. Keynes on just about every important economic issue. That Keynes is better known is not to his credit.

The best guarantee of jobs in the industry isn’t subsidies for the losers, but the prospect of profits for the winners.

The regulatory state is also the entity that stifles competition, reduces economic cooperation, and impedes the production of wealth.

The Australian philosopher David Stove, while not exactly a Rothbardian, still preferred the free market. In this week’s Friday Philosophy, Dr. David Gordon introduces readers to Stove’s many interesting viewpoints.

The word “democracy” is almost sacrosanct in modern society, yet what advocates call “our democracy” is not what it claims to be. Real democracy can be found in the workings of the free market, not the political halls.

Just as, for them, liberty must be the highest political end, peace must be the highest end of foreign policy.

Those who invoke Jesus for socialism face a tension: if the power to end suffering creates a moral obligation, then the Jesus who healed many but not all appears, by that standard, either unwilling or unable.

Those who invoke Jesus for socialism face a tension: if the power to end suffering creates a moral obligation, then the Jesus who healed many but not all appears, by that standard, either unwilling or unable.

It’s not about fighting over what little there is, but about serving and cooperating voluntarily to create abundance, which is what characterizes the free market.

John Williamson, who passed away five years ago, is known for creating what was called the “Washington Consensus,” which was an attempt to bring a liberal economic order to poor countries looking to transition from socialism to capitalism.