Medical Lawsuits
When a friend told me recently that he was going to undergo a painful medical procedure to see if he has cancer, it reminded me of a time years ago when I faced a similar prospect. The testing procedure in my case would have been both painful and with some risk of...America’s Compassion in Iraq Is Self-Destructive
The horrific suicide bombing in December of a U.S. mess tent near Mosul and the assassination on Jan. 10 of the deputy chief of Baghdad police–the second Iraqi official murdered in five days–are further indications that the war in Iraq is worsening. Things...Economics for the Citizen (Part 10)
A discussion of a few popular sentiments that have high emotional worth but make little economic sense.
Economics for the Citizen (Part 9)
What’s called the market is simply a collection of millions upon millions of independent decision makers not only in America but around the world.
End Social Security
Throughout the nation, a fierce debate rages over Social Security. One side, led by President Bush, says the system is in crisis and must be saved via “partial privatization.” The other side says the system is basically sound and can be saved with a little...Economics for the Citizen (Part 8)
Economic theory is broadly applicable. However, a society’s property-rights structure influences how the theory will manifest itself.
Ayn Rand and Song of Russia: Communism and Anti-Communism in 1940s Hollywood
Ayn Rand called this movie pro-Soviet propaganda, a deliberate whitewash of the terrible reality of life under communism.
Economics for the Citizen (Part 7)
The fact that sellers charge people different prices for what often appear to be similar products is related to a concept known as elasticity of demand,
