Free Markets

After spending 25 years as a columnist for the New York Times, Paul Krugman is finally retiring from that position—25 years too late, if one wishes to be honest.

Entrepreneurs come from all walks of life and from different social and ethnic groups. Lipton Matthews reviews Jean-Claude Escalante’s From Indentureship to Entrepreneurship, which chronicles the rise of a successful entrepreneur who came from humble beginnings.

While people who “prep” for disaster (called preppers) are ridiculed by political elites and their media, their actions are perfectly rational. In this article, economist Mark Thornton explains why prepping for natural disasters makes economic sense.

Not long ago, Black Friday epitomized consumer frenzy.

Supporters of intellectual property laws claim that people will not innovate unless they are protected by such legislation. In reality, people are more likely to be innovative when they encounter real free markets, not markets characterized by artificial scarcity.

In the early years, the pilgrims of Plymouth Colony adopted a 17th-century form of socialism and nearly starved to death. They had little to be thankful for until they gave up on dreams of utopia and turned to markets instead.

So-called economic moderates claim to support free-market capitalism, but then say that markets still need “some” government oversight. Free markets, however, don't need government-based rules because markets effectively regulate themselves.

Murray Rothbard wrote that egalitarianism is a “revolt against nature.” Progressives claim that inequality harms society and is morally unacceptable, but in reality, it is necessary for division of labor, which enables social cooperation.

Totalitarianism is not compatible with a functioning economic system based upon free exchange and private property. Such regimes depend upon historicism and logical relativism.

The iron law of prohibition states that the more you attempt to enforce prohibition, the more dangerous and the more potent the drugs actually become.