Free Markets

The precept of methodological individualism has shown its usefulness in the explanation of the origin of money.

To make things even worse, the unintended adverse consequences of government "solutions" undermine the premier example of unintended positive consequences in society — the "invisible hand" of market mechanisms that arise from self-ownership and lack of coercion.

Almost invariably, furthermore, the union is not trying to discover the market rate, but to impose various arbitrary "principles" of wage determination, such as "keeping up with the cost of living," a "living wage," the "going rate" for comparable labor in other firms or industries, an annual average "productivity" increase, "fair differentials," and so forth.

Socialism is irreconcilable with freedom. This is the lesson that most of our modern philosophers and littérateurs have yet to learn.

One effect of a minimum wage is to reduce the availability of on-the-job training, since more resources are required simply to hire and retain a workforce.

The market's love of reality is triumphant.

Freedom works; market prices guide people to make the necessary adjustments after a big surprise.

The vast majority of American workers remain stubbornly nonunion despite the best efforts of labor unions, the federal government, its court intellectuals, and the mass media.

The whole idea is just plain dumb, not to mention incredibly ill-timed.

The two haute couture lines creating the most buzz are "Laissez-Faire," by Ludwig von Mises, and  "Après Moi le Déluge" by British export, John Keynes.