Since outright grants of monopoly or quasi-monopoly would usually be considered baldly injurious to the public, governments have discovered a variety of methods of granting such privileges indirectly, as well as a variety of arguments to justify these measures.
Last month's election gave Boris Johnson a strong majority in Parliament, but two economic wildcards could trip his new government up.
The conservative case against market freedom is based on the belief that if change disrupts the status quo in any way, or if companies impose cost reductions that result in a shifting of employment — or even some layoffs — then government should step in and take control.
Why should we think that government officials are better at acting “rationally” than those they regulate? Even if we were to concede that smoking deserves to be restricted, why should we think the government can do it in a reasonable way?
See what we've accomplished this quarter! We are proud of our students, scholars, and events; and we strive for a higher standard in everything we do. Thank you to our Members who make all of this possible.
The moral of this economic story is that whenever someone who has an incentive to lowball the burden of a tax is speaking or writing, be careful to look at what happens to take-home income as a better guide to policy.
Nothing short of an economic exorcism is needed in Zimbabwe. Looking at what President Mnangagwa has done so far, it doesn’t seem that Zimbabwe is actually serious about making tough reforms.
Repo markets aren't as liquid as the Fed wants. This could be due to immense amounts of new government debt, or because US Treasurys aren't as risk-free as many assume.
So long as governments exist, it is essential that we minimize the ability of groups and individuals to use the power of the state to enrich themselves.
There's no evidence Trump is more trigger-happy than any other president, but the presidency's unchecked nuclear-launch power will remain a problem both now and with future presidents.
