Free Markets

Texas politicians have decided their political "wisdom" can replace a market pricing system in production and distribution of electricity. Failure looms.

The late Walter Williams was a clear thinker when it came to issues of race and economics. While some socio-economic differences in society can be attributed to racism in society, most of it cannot, and Williams was not shy in pointing out that fact.

Socialists claim that any work done in a market economy is oppressive because labor in that situation cannot be adequately compensated. However, workers in a market system freely choose among many alternatives in order provide the best opportunities for themselves.

So-called fair trade is the rage among elites who believe that it protects people in poor nations who would like higher prices for their exports. In reality, fair trade distorts prices and provides disincentives for consumers.

Under the regime of apartheid, South Africa's government engaged in legal discrimination. In the new South Africa, the government also engages in legal racial discrimination in the name of "equity."

Comparative institutional analysis of both policing provided by government bureaucracies and by private enterprises that can engage in economic calculation.

Recorded at the Mises Institute in Auburn, Alabama, on July 31, 2024.

Thanks to state propagandists in our education systems, people have been told that free markets create poverty while state control of economic exchange produces abundant wealth and effectively distributes it. The truth is that free markets reduce poverty and liberate humanity.

Instead of the usual claptrap that characterizes most graduation speeches, someone needs to give a speech that defends liberty and tells the truth about government and capitalism.

Prompted by a listener request, Bob gives the standard economic analysis of tariffs and other types of taxes.