Free Markets

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.

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."

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.

Mainstream economists often claim that “market failure” is everywhere. However, when one investigates these so-called failures, one has to conclude that government intervention often is behind them.