Free Markets

In this interview, Mark Thornton discusses his debate on the drug war at Oxford University and provides a view on how drug prohibition is viewed internationally.

The work of economist Anders Chydenius, which predates Smith’s The Wealth of Nations, provided a radically free-market voice for Scandinavia in the 18th century as Chydenius battled against mercantilists and those who thought government well-suited to plan economies with laws and edicts.

The television show American Pickers shows many economic concepts in action, such as comparative advantage and specialization and trade, and it also illustrates numerous Austrian insights such as subjective value and the role of the entrepreneur.

My journey with Austrian economics and the Mises Institute began in 1992.

The war on drugs has no benefits, just costs and negative unintended consequences. These include drug-addict crime, drug-dealer violence, bribery and corruption, and the increase in drug potency to deadly levels.

Investor Mark Spitznagel and Ron Paul discuss agriculture policy, Wall Street, fiat money, investing, and Ron Paul’s plans for the future.

Supporters of minimum wage hikes claim that such hikes have little or no effect on employment, but the law of demand makes it clear that the effects of such price controls are very real.

Political consultants and mainstream reporters are fixated on conventional electoral politics, as if no other form of societal change were conceivable. Meanwhile, the real threat to the established political order is the intellectual movement behind radical free-market libertarianism that continues to build and grow.

The "Lost Decade" narrative in Japan and the US has kept the drive for more government intervention going for a long time.

 If, for good reason, we generally distrust the concentrated power wielded by coercive monopolies, we ought to avoid at all costs placing more power in the state, the ultimate embodiment of monopoly.