Introduce government intervention into the market system, and monopoly becomes a social harm and an economic problem.
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
Keynesian Aggregate Demand and Supply Derangement Syndrome
The fundamental flaw in Professor DeLong’s view, as in John Maynard Keynes’ 1936 book is the idea that there exists a macro-economy the two sides of which are composed of aggregate demand and aggregate supply.
We Should Celebrate Diversity in Wealth Too
For the sake of justice, liberty, and prosperity, people should abandon their anti-commercial prejudices and cease deriding unequal wealth and income.
What a Dictator Does to an Economy
It is not for the president or any politician or regulator to issue dictates telling individuals or businesses where and what and how much to invest, much less what to say
Fallout from the Trade Wars
The president pledges to “make America great again,” which is a crucial and noble sentiment. But protectionism only hurts rather than helps do that job.
Football Stadium Subsidies: A Bad Deal for Taxpayers?
Football is popular enough to thrive without politicians subsidizing it.
Profit Maximization: The Moral Purpose of a Business Under Capitalism
Profit seeking and capitalism are natural and beneficial and provide the proper moral purpose for business.
Business Needs Freedom and Not a “Social License” to Operate
What we need is competition in free markets and protection of individual rights.
The Hawks Surrender
The biggest danger facing the American economy is not financial or monetary, but political. If we are currently entering a recession that proves to be even more severe than the last, which I believe we are, Donald Trump and the Republican Party will take the blame.
Introduction to Ludwig Von Mises’ Economic Policy
A felicitous introduction to Mises’ ideas.
Profits Are Progressive
Is profit a dirty word? Would the world be better off without them?
Jean-Baptiste Say, Ayn Rand, and Objective Economics, Part 2 of 2
When grounded on the right foundations Richard Salsman shows why economics is an objective science.
Jean-Baptiste Say, Ayn Rand, and Objective Economics, Part 1 of 2
When grounded on the right foundations Richard Salsman shows why economics is an objective science.
Trump Lays Down the Gauntlet of Dictatorship
A dictator cannot stand any form of independence — whether in words or action — and neither can Trump.
In Praise of Supermarkets (and Capitalism)
Ask Venezuelans whether they would prefer well-stocked supermarkets to empty shelves and the desperate shortages of food under socialism.
John Allison on the Financial Crisis
John Allison, former CEO & Chairman of BB&T and current president of Cato, talks on the financial crisis and the philosophy of Ayn Rand at the Adam Smith Institute’s first Ayn Rand Lecture at Drapers’ Hall.
The Importance of Business Ethics
A new semester, and a new class of business ethics, has begun. In my class, we initially discuss concrete examples of ethical dilemmas in business before delving into the main moral codes and the values and principles they comprise, to learn how they provide guidance...
Business Requires Moral Clarity
Business is a moral endeavor that makes human life immeasurably better.
Amazon Advocates Government Force To Increase The Minimum Wage
While Amazon has every right to choose how to compensate its workers, this minimum wage increase and Bezos’ encouraging the federal government to do the same are wrong.
The Trump Branded Economy
We have entered an age where substance has not only taken a back seat to style, but has been left completely on the side of the road
The Bad Economics of Short-Run Policies
The Best Short and Long Run Policy: Limited Government
Does Fighting Climate Change Give a Business a Competitive Advantage?
A business can gain a temporary advantage by appeasing popular views that fly in the face of facts, but…
Macro Aggregates Hide the Real Market Processes at Work
Government planners fail to “manage” market economies as the indicators they use are themselves false signals hiding from view the reality of the complex market system.
Free Markets vs. Democratic Socialism
Democracy and freedom are frequently heralded as being synonyms. An important question, however, is, What do these concepts mean, and are they in fact synonymous?
Why Pursue Self-Interest, and Do It Persistently? Ayn Rand Has The Answer
Ayn Rand argues that we must pursue self-interest—our rational values—because our lives depend on it.
Business Improves Lives
It is the wealth creation by companies that has helped reduce poverty to its lowest levels in history.
Free Employees From Forced Membership in Anti-Capitalist Labor Unions
Originally founded for the legitimate purpose of improving working conditions and helping negotiate wages, labor unions have substituted that purpose for entrenching the power of their leaders and the entitlements for their senior members.
Interest Rates Need to Tell the Truth
In the middle of July 2018, President Donald Trump said in an interview that he was “not happy” with the Federal Reserve nudging up interest rates and threatening economic growth in the United States. At the recent Jackson Hole, Wyoming, meeting of global central bank...
The Gates-Buffet “Giving Pledge” is Immoral
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.”
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.
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