Free Markets

The support of libertarians for big business is another debunked myth. So long as these enterprises are compatible with genuine free-market capitalism, fine. But because so many seek subsidies, bailouts, and other forms of coerced largesse, they do not carry the banner of libertarianism.

The Cold War was an unprecedented form of peacetime socialism, designed to appeal to big business, and Eisenhower became its spokesman. Savvy libertarians knew exactly what was going on and supported Cold War opponent Robert Taft.

Is it really such a stretch to suppose that when the US government (and Federal Reserve) brings the economy closer to outright socialism — as with Hoover, FDR, Bush, Obama, and Bernanke  — that those very interventions hamper the economy?

Beam’s chief problem, and the basic nature of New York magazine’s ignorance, is a certain degree of historical illiteracy. But that’s commonplace in our society. It is, therefore, one of the chief things we have to focus on.

Walt Disney maintained his desire to see the free-enterprise system of America always promoted as the solution to issues that societies face. The unfortunate reality of the present is that Disney World is becoming more of a museum about a bygone era.

The burgeoning economy of Mauritius stands out by being ranked 12th by the Heritage Foundation on their 2011 Index of Economic Freedom — just below Chile and just above Luxembourg. The index ranks nations based on freedom in categories such as business, taxes, money, finance, and labor.

The first great error here is the mental habit that many have of thinking that big government and big business are somehow at odds. The whole of American history from the beginning to the present suggests precisely the opposite.

The world would be a happier place if official economic statistics had never been created. They are often inaccurate or otherwise flawed and misleading. An even more serious consideration: official statistics help to provide rationales for pernicious policy making.

It was while I was attending graduate school that I met Murray Rothbard. Rothbard followed LeFevre on the program and, although I do not recall the precise topic of his talk that day, I was extremely impressed with the joyfulness, affability, and sense of humor he projected. 

In the days of yore, to say that a man was discriminating was to pay him a compliment. It meant that he had taste: he could distinguish between the poor, the mediocre, the good, and the excellent.