Free Markets

A satirical essay from a 1978 classroom, speculating about what it would cost to become Santa.

The first English settlers in America learned a hard lesson about socialist economics in the early years of their new colonies as they faced starvation. Once they embraced free enterprise, however, they had something to be thankful for.

The first English settlers in America learned a hard lesson about socialist economics in the early years of their new colonies as they faced starvation. Once they embraced free enterprise, however, they had something to be thankful for.

Bastiat emphasized that much of what goes on in the economy involves things we don’t see directly. Intermediaries often fall into Bastiat’s category of things “not seen.”

We must realize that the two most powerful motivations in human history have always been ideology and economic interest, and that a joining of these two motivations can be downright irresistible.

Billy Joel memorialized the workers of the steel industry in his 1982 song “Allentown.” While popular culture seems to dwell on tragedy, the creative-destruction of the market process also involves progress.

The liberal arts in higher education are in danger and many there are blaming (of course) free markets. However, by substituting progressive propaganda for higher learning, the leaders of liberal arts institutions sealed their own fate.

Central planners act as sorcerers who can conjure economic prosperity through artificially increasing demand.

As Americans celebrate the destructive wars that helped shape this country, we also remember that free markets promote peace and individual liberty.

Contra the recent winners of the Nobel Memorial Prize in economics, free markets, private savings, and entrepreneurship not so-called innovation, is what drives a market economy.