The “Free Rider Problem”

Advocates of a number of government interventions often argue that such measures are required to deal with the “free rider problem.” Indeed, Mitt Romney has called his insurance mandate in Massachusetts a “free rider surcharge.” Wikipedia describes the “free rider...

Should We License Voters?

In every state of the union, individuals are required to obtain a driver’s license in order to legally operate a motor vehicle. Further, specialized licenses are also required to operate specific types of vehicles, such as large trucks and motorcycles. To obtain such...

Stealing Food To Feed The Poor

Two weeks ago, the mayor of a Spanish town in Andalusia was orchestrating raids to local supermarkets for the purpose of stealing food to feed the poor. He was quoted as saying: “Someone has to do something so families can eat.” Mr. Sanchez Gordillo, an avowed...

Granny and the Anti-Capitalist Cliff

U.S. Rep. Paul Ryan, caricatured in political ads last year and again this month as pushing Granny off the cliff of Medicare, is now the running mate of the maker of RomneyCare, who is running against the maker of ObamaCare. With the consequent renewed debate over...

The Fallacy of the Broken Window

First published in 1946, Economics in One Lesson by Henry Hazlitt remains one of best books on economics ever published. The lesson, to paraphrase Hazlitt, is that economists must look beyond the immediate and visible consequences of economic policies; they must look...

Occupational Licensing Destroys Jobs

Let us say that you are one of the millions of unemployed Americans. Unable to find a job, you decide to start your own business. Perhaps you’ve always done your own home repairs and decide to offer a handyman service. You start installing ceiling fans, replacing...

The Economist On Money and the State

I couldn’t help being glad to see The Economist refer to Carl Menger’s theory of the origins of money just as I was about to explain that theory to my undergraduate classes. Nor did I at all mind having Menger’s ideas contrasted with those of another...

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