Liberalism has many meanings, but I wish to maintain that the most authentic form of liberalism has been concerned above all with two things: the expansion of a free functioning civil society and the restriction of the activity of the state.
Bob Murphy and Michel Accad discuss Kenneth Arrow's pioneering 1963 article on healthcare economics.
"The problems of poor relief are problems of the arrangement of consumption, not of the arrangement of production activities."
Socialism and capitalism offer radically different solutions to the problem posed by scarcity.
Austrians will be vindicated, but will they be heard?
Readers of Tim Carney's 'Alienated America' will gain much from the author's account of civil society. After all, isolated individuals do not make for a successful marketplace. Free markets succeed best in the context a stable civil society.
Does Carlson honestly think Republican members of Congress are overly theoretical and ideological? And here we thought they were a bunch of unprincipled and poorly-read hacks!
Far from being a bucolic utopia, economic conditions were highly unsatisfactory on the eve of the Industrial Revolution. The traditional social system was not elastic enough to provide for the needs of a rapidly increasing population.
In truth, there is only one way to regard a minimum wage law: it is compulsory unemployment, period.
