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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

Classical Economics Versus The Exploitation Theory

The fundamental place to challenge the exploitation theory is not over the labor theory of value or the iron law of wages, but here, over its conceptual framework—over the doctrines of the primacy of wages and the deduction of profits from wages.

Software Rights, Browsers, Netscape, and Microsoft

Software Rights, Browsers, Netscape, and Microsoft

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One reader has wondered whether the recent attacks on Microsoft stem from the fact that software intellectual property rights are not predominantly protected by patent law, but rely in part on copyright law. The reader said this in context of a suggestion that...

Microsoft is Successful Because It is Competitive

Microsoft is Successful Because It is Competitive

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Bill Gates, Microsoft’s founder and Chairman, had to testify before the Senate Judiciary Committee this week because his competitors, the government, and his other foes have manipulatively vilified him. They unjustly characterize Microsoft’s dominance in...

A Double Standard of Justice Toward Microsoft

A Double Standard of Justice Toward Microsoft

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In 1988, Microsoft offered manufacturers of personal computers a considerable discount on the licensing fees they pay to install MS-DOS and Windows operating system on new PCs prior to their leaving the factory. In exchange it required manufacturers to pay for each...

Antitrust Against Justice

Antitrust Against Justice

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The suit against Microsoft by the U.S. Department of Justice is, in fact, a grave act of in justice. To understand this, it is necessary to look at the background and legal context of this case. America’ antitrust laws are highly ambiguous. They create offenses...

The U.S. Government’s Assault on Microsoft

The U.S. Government’s Assault on Microsoft

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The U.S. Department of Justice (DOJ) recently accused Microsoft of violating U.S. antitrust laws, and asked a federal court to fine Microsoft an unprecedented 1$ million per day until the “violations” cease. Microsoft’s “crime” was to...

Economics of Unionism

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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...

Economics 101

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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,...

Only A Gold Dollar Will End Deficits

Only A Gold Dollar Will End Deficits

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The United States government has had a budget deficit in almost every year since 1933. Repeated pledges to end the deficits have come to nothing. The latest pledge, President Clinton’s plan to eliminate the deficit by the year 2002, is only one more such empty...

“Buy American” Is Un-American

“Buy American” Is Un-American

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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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