The Giving Pledge is immoral because it is based on the idea that those who have legitimately created wealth by trading values with others have not earned it and must “give it back.”
MARKETS
Intellectual freedom cannot exist without political freedom; political freedom cannot exist without economic freedom; a free mind and a free market are corollaries. – AYN RAND
Who should you hire—and how to get hired?
The competitive advantage of the company lies in the minds of its employees.
The Benefits of Issuing Gold Bonds
There are simple and clear fiscal benefits to a government that issues a gold bond.
The Best Response to Foreign Tariffs? Lower Your Own
The fact is, while the U.S. and the major European countries have emphasized the idea and benefits from free trade, all of these governments impose various types of tariff and other barriers to shelter selected sectors of their respective economies.
The Myth that Central Banks Assure Economic Stability
What is the fundamental issue is: monetary central planning – with its embarrassingly awful one hundred year track record with paper monies – or getting government’s direct or indirect hand off the handle of the monetary printing press.
A Trade War Won’t Be Good For the Dollar
A trade war may also finally prompt China to do the smart thing and dump its trillion-plus holdings of U.S.
The Bayer Monsanto Merger
Had the government regulators not approved Bayer’s acquisition of Monsanto, human flourishing would have diminished.
Canada Nationalizes The Trans Mountain Oil Pipeline Expansion
Instead of enforcing the Constitution and using its authority against the British Columbia government and protesters initiating physical force against Kinder Morgan property and its employees, Trudeau stayed true to what he said prior to the last election: “Governments might grant permits, but only communities can grant permission.”
Trump “Victories” on Trade are Anything But
Elimination of the trade deficit will be a hollow victory if it results in a significant reduction in living standards.
European Bank HSBC Abandons Financing Fossil Fuels
Banks to stop financing fossil fuel development: Sound investment decisions vs. virtue signaling?
Tariff Wars (and the Fallacy of the Balance of Trade)
The world may be on the brink of a series of trade wars between the United States and both the European Union and China. All the parties say they don’t want this — though President has asserted that trade wars are not a problem and easy to win. That remains to be...
Why Is Facebook’s CEO Mark Zuckerberg Groveling?
The Public “Flogging” of Facebook’s Mark Zuckerberg
Hands Off Amazon.com and Sell Off the Post Office
President Trump should focus on getting government out of business by deregulating—and privatizing the United States Postal Service.
The Unintended Consequences of The Minimum Wage
But behind all of these negative and usually unintended consequences arising from the imposing of a government-enforced hourly minimum wage remains the fundamental ethical issue: who shall have the right to decide under what terms and conditions people enter into gainful employment?
The Trump Tariff is Really a Gigantic Tax on American Consumers
A tariff is essentially a tax that will be paid by domestic consumers.
Trump’s Protectionist Tariffs Threaten a Trade War
The illogical trade policies of President Trump not only threaten to make Americans poorer, but could start a global trade war that could lead to decreasing standards of living for hundreds of millions of people around the globe.
Trump Plays with Fire on Trade
With his announcement last week of broad tariffs on imported steel and aluminum, President Trump launched what could be the first salvo of an all-out global trade war. Seemingly itching for a fight, he gleefully tweeted that “Trade wars are good, and easy to win.” It...
Capitalism and “Public Goods” Like National Defense
The competitive market economy is a powerful institutional mechanism for bringing human ingenuity, energy and creativity to bear to improve both the material and cultural circumstances of multitudes of people around the world. Wherever relatively free market...
The Debt Ceiling Hysteria and Profligate Government
The Crisis is Not Debt Default, But Too Much Government Spending
Larry Fink vs. T.J. Rodgers: The Moral Purpose of Business
The proper, moral role of companies in society is to produce and trade material values
Amazon should keep its second headquarters away from Canada
Should Amazon locate its second headquarters in Toronto or elsewhere in Canada, it would be sacrificing profits due to government intervention.
Raising Rates Reflect Bigger Debt Not Faster Growth
While investors are justifiably focused on what may be the opening crescendo of a long overdue sell-off in stocks, there is not, as of yet, as feverish a discussion of the parallel sell-offs in bonds and the U.S. dollar, which have been underway for at least a year...
Reject CEO Pay Caps and Minimum Wages
CEO pay caps and minimum wages are immoral because both curtail individual freedom by government force—yet, freedom is the fundamental requirement of human flourishing and prosperity.
Capitalism and Free-Market Competition
According to the critics of capitalism, competition is a cruel process feeding unnecessary wants, that evolves into anti-competitive monopolies acting contrary to the “public interest.”
Capitalism and Monopolies
Harmful monopolies are always created by government.
A “Right Side” to History? The Failure of Marx’s Predictions About Capitalism, Part 2
Those who speak about being on the “right side of history” have, knowingly or not, adopted a central element in Karl Marx’s analysis of capitalism
A “Right Side” to History? The Failure of Marx’s Predictions About Capitalism, Part 1
One of the most common phrases to be heard from those on “the left” is the assertion that someone or some public policy is or is not on “the right side of history.”
Fake Tax Reform
After supposedly chomping on the bit for years to pass meaningful tax reform, Republicans are now set to blow an historic opportunity. Whatever version of the Bill that emerges from the House and Senate Conference Committee (which will be signed by President Trump...
Wealth Creation is Not a Zero Sum Game
Those producing and trading goods and services for profit are not taking anything away from others—the producers and traders are creating material values that would not exist without their productivity.
Books: The Moral Case for Finance
The essential moral case for finance that Brook and Watkins present is that finance is good by the standard of human flourishing.
The Impact of Monetary and Regulatory Policy on Main Street Banking
John A. Allison is an Executive in Residence at the Wake Forest School of Business. He has served as president and CEO of the Cato Institute, and chairman and CEO of BB&T Corporation. This article is based on his remarks at Cato’s 34th Annual Monetary Conference,...
Right-To-Work is an Inalienable Right
While individuals have a right to organize, they do not have the right to violate other people’s rights, forcing them to join their organization.