Hong Kong's new government appears to be losing its inhibitions about contradicting market prices, favoring some industries over others, and using taxpayers' money to dispense windfall profits to those in favor. The deal recently signed with Disney to build a theme...
Economics
Clinton, the WTO, and Economics 101
What do the World Trade Organization protesters, President Clinton, and the Microsoft judge have in common? Answer: an almost appalling ignorance of Economics 101. The World Trade Organization, a consortium of 135 nations, met in Seattle to discuss ways to increase...
When Will the Bubble Burst?
As the inflation-induced appearance of wealth is made to substitute for the fact of wealth, the boom gives rise to a consumption that takes place at the expense of essential saving and capital accumulation and thus serves ultimately to cause impoverishment.
Reisman Responds To A Review of “Capitalism: A Treatise on Economics”
The Review of Austrian Economics (RAE) recently published a review of my book Capitalism: A Treatise on Economics that, while praising my book to some extent, seriously misrepresents or altogether ignores major portions of it.
Economics of Unionism
The Teamsters' strike, and its pending settlement, against United Parcel Service (UPS) gives us a chance to think about unions and labor issues. In a free society, people have the right to form voluntary associations. Therefore, any impediment, including so-called...
Economics 101
Many people think economics is about businesses and financial institutions but economics is much broader than that. Economic theory makes a valuable contribution whenever there are costs and benefits of any human action. Take dating. Suppose you see a fat, old, ugly,...
“Buy American” Is Un-American
Government interference with free trade is un-American. Sacrificing one’s standard of living in order to subsidize inefficient domestic producers is un-American. The tribal fear of foreigners is un-American. Resentment at others’ success is un-American. A patriotic American acts as a capitalist and an individualist: he buys the best, wherever it may be found.
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