Free Markets

An attack on liberty that violates every principle of federalism and good sense. (Column by Clyde Wilson)

Private subways-even though highly regulated, even though the fare was held to a nickel by government decree--fueled the expansion of the city. As lines were extended, neighborhoods and shopping centers grew around the stations. But by 1940, through rigorous regulation and through Communist labor unions that sabotaged private ownership, the subways were taken over by the city.

Imagine how the world would work without private property and market prices. Citing Mises, Investors Business Daily rightly says the result would be chaos.

Professor James Buchanan, the 1986 Nobel Laureate in Economics, has achieved fame through public choice economics, which he, together with Gordon Tullock, invented.Professor James Buchanan, the 1986 Nobel Laureate in Economics, has achieved fame through public choice economics, which he, together with Gordon Tullock, invented.

The internet provides a remarkable test case of the free market. What have we learned?

Among the most popular and consequential beliefs of our age is the belief in collective security. Nothing less significant than the legitimacy of the modern state rests on this belief. And yet, the idea of a collective security is a myth that provides no justification for the modern state.

Dominick Armentano explains why this coercive institution should be abolished, for reasons of both efficiency and liberty.  

How the state causes crime.

Hayek on Politics and the State. 

Their advantages over government courts.