Free Markets

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The Problem with Public Transit

Bureaucracy and RegulationEconomic PolicyFree MarketsCalculation and Knowledge


Much of government-owned transportation destroys rather than adds to wealth. The lack of a sound system of economic calculation is to blame.

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Voting with Their Feet: The Lure of Migration

Free MarketsImmigrationPaternalismPhilosophyStrategy


People migrate for many reasons, including moving to a better economy and escaping political persecution. But one thing is certain: people are going to vote with their feet.

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The Simplicity and Significance of Mutual Economic Exchange

Economic FreedomFree MarketsPraxeology


The simplest action of economics—beneficially mutual voluntary exchange—is also its most profound. People serve each other while improving their own lot in life.

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Socialism Cannot Work, Not Even in an AI-Driven Economy

Free MarketsSocialismMonopoly and Competition


Some are claiming that AI can make socialism workable, but even AI cannot take the place of entrepreneurial economic calculation.

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To Smoke or Not to Smoke: The Cigarette Economy in Postwar Germany, 1945–48

Bureaucracy and RegulationEconomic PolicyFree MarketsU.S. HistoryWar and Foreign PolicyWorld History


Postwar Germany was occupied, in ruins, with an economy in chaos. Germans were reduced to using cigarettes supplied by American GIs as money.

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The Problem with Belloc's Distributist Economy

Economic PolicyFree MarketsOther Schools of ThoughtPhilosophy and Methodology


The "distributist" theorists Chesterton and Belloc imagined that economic interventionism could make life easier and more free. Yet their proposed system is neither moral nor practical. 

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Do Boycotts Really Work? Another Look at the Bud Light Situation

Cronyism and CorporatismFree MarketsStrategy


Some conservatives are upset because the new best-selling beer is owned by the same company that owns the beleaguered Bud Lite. Actually, they should have no problem with that.

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Rich Country, Poor Country. Why the Differences?

AntipoliticsEconomic FreedomFree MarketsProtectionism and Free TradeWar and Foreign PolicyWorld History


Leftists claim that developing nations are poor because Western nations once practiced colonialism. The truth is that empires do not foster economic growth.

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Unleashing the Power of Greed: How the Free Market Propels Progress

Economic FreedomFree Markets


As long as scarcity exists, there will be greed. Thank goodness free markets enable greedy people to serve others.

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Can We Understand AI? A Response to Jordan Peterson’s Podcast

Bureaucracy and RegulationFree MarketsLaw


All too often, when we see a new technology we don't understand, our natural inclination is to condemn it. Artificial intelligence is no exception.

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