The “Buy-Local” Canard
In fact, when people take “buy local” seriously, they are setting the stage for absurd and potentially tragic economic results.
Free Markets
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Is Insider Trading Really a Crime?
The public loves the fall of a ruthless and greedy financial titan — this, of course, is what made Oliver Stone's original <i>Wall Street</i> such a hit. But the practice of "insider trading" can actually be beneficial. In a free society, there would be no such thing as laws against so-called insider trading.
Can Conservatives Be Libertarians?
Many, perhaps most, people have a deep-rooted predisposition to keep things the way they are. This innate resistance to change finds expression in the political philosophy called conservatism.
100 Years of Myths about Standard Oil
May 15 is the 100th anniversary of the most famous antitrust ruling in US history — the 1911 Standard Oil case, and the 100 years of myths it engendered.
The Road to Taxi Serfdom
The New York City mayor has decreed the Nissan NV200 minivan will become the official taxi of the city. In addition to illustrating the corrupting effects of political power, the episode underscores the economic problems of government ownership of roads.
The Endless Sufferings of Cairo, Illinois
The US Army Corps of Engineers blew up a levy to spare the town of nearly 3,000 — while flooding 200 square miles of farmland.
Arthurdale as a Board Game for FDR’s Players
"What you are doing is an experiment, and it isn't right to experiment on people."
The Triumph of Technology over Government Planning
Technology is the enemy of bureaucrats and dictators. By freeing people from centralized control, technology gives them power over their own lives.
When Capital Is Nowhere in View
Some say that we should grow our own food, buy locally, keep firms small, eschew modern conveniences like home appliances, go back to using only natural products, expropriate wealthy savers, and harass the capitalistic class. This paradise has a name, and it is Haiti.
Consumer Advocate in Chief?
President Obama has chosen to follow a well-worn script — looking for political advantage by pretending to protect voters from the evils of the marketplace.
