Free Markets
The Elitist Individualism of H.L. Mencken
Mencken saw the implications of where his thinking was leading him and he acknowledged those implications frankly. "I am," he wrote in <em>The Smart Set</em> in 1922, "a libertarian of the most extreme variety."
A Theory of Bribes
Regardless of their relative merits, bribes are a phenomenon distinct from taxation and regulation. Examining where and to what extent illicit bribes exist sheds further light on the distinction between the private, voluntary economy, and the public, coercive one.
The Praxeology and Ethics of Traffic Lights
How often do you hear the minarchist say, "Well, I don't like government, but we at least need things like traffic laws. We need a government to keep us safe"? What if we actually began to publicly advocate the abolition of traffic regulations?
The Common Thread to Progress
Obama says that the key to progress is good government. Not so. The real common thread to progress is free enterprise. Progress and prosperity have followed movement toward freer markets and secure property rights.
Are the Austrians Too Harsh?
Austrians get a bum rap for their prescription for recession. The readjustment process is not cruel; it is about permitting production to align more closely with consumer preferences. Recovery, like growth and development, requires forward-looking planning.
Blind to the Flaws of Keynesianism
Blinder is arguing that of course the Obama stimulus worked, because spending money creates jobs, period. To see just how naive this view is, consider that there is nothing in Blinder's argument restricting it to cases of severe recession.
The Meaning of Gold in the News
In the last week there have been many interesting developments involving gold. The price of the yellow metal set a new record, breaking through the $1,300 barrier. A German firm is preparing to install gold-vending machines in the United States. There's more.
Can Politicians Help Us?
The only way politicians can really improve the economy — and our lives — is by (1) getting out of the way, and (2) undoing the policies they've previously implemented that hamper it.
Time as a Price
Healthcare in Canada is not free. Constantly full waiting rooms and long waits for procedures are not an unavoidable fact of life but a product of a "priceless" supply system, where waiting for service acts as a rationing substitute for the market price.