The economic success of the West and of free economies everywhere stems from the acceptance within many societies (to varying degrees) that individuals are all equal in the right to own property and exercise freedom from the collective. States, on the other hand, claim a special and exalted position within society.
The minimum wage forces the price of labor up, and rent control forces the price of rental housing down.
Matt Drudge revolutionized the internet with his invention of the news aggregator, and we need to do something similar to find the truth about freedom and economics.
Central bank policies spread uncertainty, malinvestment, and unemployment. Only the private economy provides the necessary economic coordination.
Economics is a logical, deductive, human science about real people acting in the real world, with all the dynamism, unpredictability, and creativity that entails. Markets aren’t static, lifeless mathematical constructs but lively, vigorous spaces where people interact and coordinate.
Many colleges and universities prohibit alcohol consumption at football games. Does this stop drunkenness or disorder?
Those who keep their jobs benefit from minimum-wage increases, but less-skilled and less-experienced workers face greater competition from other low-wage workers.
The Levellers are often characterized as a quasi-socialist movement, but they had more in common with free markets than with socialists.
Rifkin misses the mark because he ignores Menger’s theory of value and the role of the entrepreneur.
Third world sweatshops benefit workers much the way factories in Great Britain and the US did during the Industrial Revolution.
