The Double “Thank-You” Moment

Some people hate me because I defend free markets. Once someone accosted me on a New York City street and said, “I hope you die soon.” Why the hostility to commerce? What could be more benign than the freedom to trade with whomever you wish? I suspect...

Who Is Gouging Whom?

Last Wednesday the House of Representatives passed legislation instituting penalties of up to $150 million for companies and up to $2 million and 10 years’ imprisonment for individuals found guilty of gasoline “price gouging.” But the real gouger...

What to Do About Rising Gas Prices

With gasoline prices at their highest point in recent years, the knee-jerk response of many is to call for the government to “do something” to force prices lower. But no matter what the price of gasoline is, such calls are wrong. All market fluctuations in...

The Tax-Cut Myth

The federal government keeps growing, as I pointed out last week, but the Bush administration has cut tax rates a few times since 2001. How can that be? The answer is simple: deficit spending. Some Republicans argue that deficits don’t matter; that if you cut...

The Public Trough Is Bigger Than Ever

Bill Clinton once declared, “The era of big government is over.” Both Republicans and Democrats applauded. What a joke. Government grew under Clinton, and grew even faster under his successor. Government is so big today that more than half the population...