Free Markets

Tate Fegley explains how the absence of market signals leaves public policing blind to real-world tradeoffs.

Shawn Ritenour critiques mainstream growth models that emphasize abstract inputs like capital accumulation and technological innovation, arguing instead for a human-centered approach rooted in Austrian economics.

Moral squeamishness isn't a market failure.

While it is tempting to see the economic success of Singapore and Hong Kong as similar, there really are stark differences between them. Hong Kong has developed through laissiez-faire and entrepreneurship while Singapore is much more state directed.

While it is tempting to see the economic success of Singapore and Hong Kong as similar, there really are stark differences between them. Hong Kong has developed through laissez-faire and entrepreneurship while Singapore is much more state directed.

Critics of free markets such as Oren Cass claim that Austrians and other supporters of the free economy are engaged in “market fundamentalism.” However, support for free markets is not an act of blind faith but is based upon understanding of how markets actually work.

Critics of free markets such as Oren Cass claim that Austrians and other supporters of the free economy are engaged in “market fundamentalism.” However, support for free markets is not an act of blind faith but is based upon understanding of how markets actually work.

It is one thing to understand economics and quite another to be able to explain how economics works. Those who favor free markets also need to be able to explain and defend them.

We speak of the “economy” as though it produces goods. Yet, the term really is a fiction, as purposeful individuals working in cooperation with each other are the real producers.

Arbitrary and undefined terms like “fair wage” and “living wage” fundamentally misunderstand the nature of work how wages are determined.