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
In eighteenth-century France the saying laissez faire, laissez passer was the formula into which some of the champions of the cause of liberty compressed their program. Their aim was the establishment of the unhampered market society. In order to attain this end they...
It is capitalism and the competitive market process that generates solutions to the knowledge problems of the society, including the “informational asymmetry” that naturally follows from any developed social system of division of labor.
Many high employment “countries such as Iceland, Norway, Sweden and Switzerland” have no minimum wage laws.
A mandatory minimum wage rate, to the extent it’s set above the market-clearing wage rate, causes unemployment.
If we can’t kill it entirely, we should be thinking about ways to make the Fed less political, not more.
If we Americans are indeed made better off the greater are foreigners’ demands for our exports, how are we made worse off by foreigners’ economic success given that such success invariably increases their demands for our exports?
As the economic degree of capitalism rises, not only do profit margins and the rate of profit fall, but wage payments come into being and then rise both absolutely and relative to profits.
Republicans must join with Democrats to end Trump’s tariff authority. They should repeal these “emergency” laws that allow the president to unilaterally impose new taxes on Americans, in defiance of the intent of the framers of the Constitution.
People are most often confused by executives who seem to share attributes of both the inflated and the genuine egoist
Besides making Americans poorer than they otherwise need to be due to Trump’s tariff wars, the president has arrogantly used executive authority to arbitrarily impose higher import taxes (or their threat) at his own discretion and whim.
It is not Amazon, Google, Apple, Facebook, and others that need to be “cut down to size,” as they cannot coerce us to buy their products and use their services.
The financial crisis of 2008-9 — accompanied by the Great Recession was caused by government intervention, mainly in mortgage finance and the housing sector.
In economics Hayek is a radical; but in philosophy, unlike Ayn Rand, Hayek is a conservative.
Hipster antitrust taken to its logical extreme involves the government using its power over firms to make them do whatever politicians feel like.
Any social system must coordinate production and cooperation, and must also implement a system of distribution that participants perceive as sustainable, which often means morally fair. As Nobelist Elinor Ostrom demonstrated, there are many and widely varied social...
Can’t we just leave government out of it and let employers and employees work this out to meet individual needs?
Does a government-mandated minimum wage help or hurt the very workers and job seekers that Ocasio-Cortez wants to help?
A patriotic American acts as a capitalist and an individualist: he buys the best, wherever it may be found.
Economic growth has been faster when the federal government has been smaller (relative to GDP) – and vice versa.
I don’t trust politicians, generally, but I especially don’t trust them with money. Since the U.S. went off the gold standard, the dollar has lost 80 percent of its value.
By mistaking the real nature of international trade, the costs of tariffs, the effects of currency movements, and the supposed ease with which the United States could quickly re-establish itself as a low-cost manufacturer, Trump risks shredding the safety nets that have undergirded the U.S. economy for decades and plunging us into a war we are ill-equipped to fight.
“I cannot undertake to lay my finger on that article of the Constitution which granted a right to Congress of expending, on objects of benevolence, the money of their constituents.”
Tariffs are paid directly from American businesses to the government’s coffers.
Ayn Rand publicly recommended the works of Mises but not of Hayek. Today, when Hayek is much better known than Mises, it's worth seeing why. I came to the full realization of what's wrong with Hayek's approach while re-reading Atlas Shrugged. No, not in Galt's speech,...
Those three elements are (a) division of labor; (b) impersonal exchange based on prices; and (3) economies of scale based on knowledge.
Some creative rethinking can put us on the road to a better tomorrow.
After all the studies and the near-unanimous opinion of economists — and even after the negative real-world effect of the minimum wage — it still remains popular.
Central banking is a form of central planning. The Federal Reserve has a legal monopoly over the monetary system of the United States.
The creation of money doesn’t create wealth, unless money itself is wealth — as it was when it was gold and silver.
Open, competitive markets have a resilient capacity to successfully coordinate the actions of, now, billions of people around the world. With an amazing adaptability to changing circumstances, the actions and reactions of multitudes of suppliers and demanders are...
Despite the support which it historically gave to the exploitation theory, classical economics provides the basis for turning the exploitation theory upside down.
Its co-owner, Charles Milite, cited as the primary reason the city’s minimum wage law.