Many people agree that it’s important to move to a free market in money (i.e. the gold standard). They also say that it’s just as important to fight bad taxes and regulation. In their view, government interference in the economy is like friction in a car. The more friction you add, the slower the car goes. One source of friction is much the same as any other.
Let me explain why money doesn’t quite work that way, using a few examples.
People who do not like capitalism, private property and profits in principle often seem to like and embrace its results, in practice.
Governments and their central banks have usurped market-based money systems to serve the plundering purposes of kings, parliaments, and special interest groups.
The beauty of the Uber model is that it actually makes free trade between Uber’s drivers and their customers possible, without the intrusion of the regulatory state.
In cheating customers and others, VW was not acting selfishly but self-destructively.
Money, Banking, and the Business Cycle provides a comprehensive defense of Austrian business cycle theory (ABCT). It shows that a free market in money and banking will create the most stable banking and monetary system that is possible.
The U.S. presence in the Middle East, which for years provided some control over one of the world’s most volatile regions, appears to have dissolved into chaos. By removing Saddam Hussein from power, the U.S. removed his tyrannical but stabilizing hand from the powder...
It is no coincidence that housing prices in coastal California began skyrocketing in the 1970s, when building bans spread like wildfire under the banner of “open space,” “saving farmland,” or whatever other slogans would impress the gullible.
If you borrow then it’s not income. This is why no one in his right mind borrows to buy consumer goods. Those who try cannot sustain it for long… But what if someone else borrows?
Take the notion of the efficient market. What does that mean? Today, hordes of people are coming out of economics and finance majors believing an absurdity. Yes, I said absurdity. They think that, if the market is efficient, it’s impossible to beat the average...
Can the government simply loan failing businesses money and “save jobs?”
The actual “wage thieves” are the politicians and others who impose minimum wage laws and other directives on the private sector. By impairing and ultimately destroying economic growth, politicians like Hillary Clinton are the ultimate wage thieves.
Many people argue that liberals, socialists and progressives do not understand basic economics. I am not totally convinced about that.
A quality decision is one that leads to achievement of values.
Enabling all Americans to prosper and have greater opportunities is a far more achievable goal than equal outcomes.
It does not matter how rich Apple is, or becomes. In the end, the government can do whatever it wants, at least so long as it keeps pushing the limits outside of its Constitutional boundaries, while our courts and citizens do absolutely nothing.
America doesn’t lack economic growth and jobs because China, or other countries, “steal” them. America lacks economic growth and jobs because its own government will not permit its economy to function freely and fully, as a private market economy can and should.
The “stakeholder” approach is based on the mistaken premise that everyone that makes a claim on a business must be—or deserves to be—treated equally, and that the business must appease every critic.
Tyranny—the cruel and oppressive treatment of others by those in positions of power—is not possible under capitalism.
Central bank apologists assert that zero interest will help the economy. It hasn’t yet, and it never will. However, the main concern by both Fed defenders and foes alike is the worry that prices might rise. Well, prices aren’t rising now. So the former are smug and the latter are frustrated.
They miss the real harm of zero interest.
People have long lists of things they think the market can’t possibly do — from building subways to fighting wars. Sometimes, the market does them anyway.
There is absolutely no moral reason to boycott the company.
Many cities have granted monopoly power to taxi companies — the right to prevent entry by others.
To make people eat their seed corn, we need to add the essential element: a perverse incentive. Let’s look at monetary policy in this light.
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