Free Markets

Thomas Piketty writes about equality and believes that reimposing communism in the West will achieve it. Mark Thornton disagrees.

Western elites are using Africa as their little laboratory for renewable energy schemes. Not surprisingly, these initiatives leave Africans in poverty and their economies in tatters.

Populists on the right (and left) are claiming that American prosperity came about because of high protective tariffs. But political rhetoric can't replace sound economics.

Only by repealing the Sixteenth Amendment can freedom from an interventionist government be restored to the American people.

Although progressives and their allies might condemn capitalism, they rarely can define it.

Much is made of surveys determining consumer confidence in the economy. Expectations, however, must line up both with proper economic theories and the information at hand.

The efficient market hypothesis, which is popular in neoclassical economics circles, holds that markets are so "efficient" that entrepreneurial profits are generated randomly.

As political divisions worsen in the United States, one remedy besides secession might be to create semiautonomous regional territories.

People decrying poverty in developing countries usually overlook the fact that there is a dearth of long-term economic thinking.

There is a future of capitalism with higher living standards for all. Then there is the alternative: state-directed economic stagnation and runaway inflation.