Some critics of the market claim that markets are effective only under the near-impossible conditions of perfect competition, among other criticisms. Deirdre McCloskey addresses these issues and more, as David Gordon points out in this review.
Progressives claim that state-sponsored healthcare systems are superior to market-based systems. Their arguments don’t add up.
Henry Hazlitt, a great champion of liberty and Austrian economics, was born on November 28, 1894. His most famous book, Economics in One Lesson, remains a best seller thirty years after his death.
Africa, while being rich in natural resources, is hobbled by government corruption, socialistic policies, and a lack of economic freedom. One only can hope for change.
Socialism and interventionism have not yet succeeded in completely eliminating capitalism. If they had, we would, after centuries of gains in prosperity, rediscover the meaning of hunger on a massive scale.
Progressives believe that government intervention in the economy is necessary to promote both efficiency and fairness. In truth, intervention accomplishes neither of them.
The meaning of economic freedom is this: that the individual is in a position to choose the way in which he wants to integrate himself into the totality of society.
Henry Hazlitt, a great champion of liberty and Austrian economics, was born on November 28, 1894. His most famous book, Economics in One Lesson, remains a best seller thirty years after his death.
Americans are constantly told that Europeans have wonderful medical care provided by their governments. In reality, private care is gaining ground because it provides better care and a better deal.
What lies behind the attempt to bypass fear of failure is the perceived lack of any substantial cost to failure. The illusion lasts only for so long before economic reality prevails.
