National conservatives believe that the allocation of resources brought about by the free market is in fact a less-efficient allocation — one that is worse for the country — than is the allocation that would be brought about by their industrial policy.
We observe a run on deposits in a commercial bank, then observe that the same thing can happen to other financial institutions, then mistakenly assume these institutions are essentially the same.
So, whether it’s Lina Khan at the FTC or Sens. Amy Klobuchar and Elizabeth Warren in Congress, antitrust advocates should take a hard look in the mirror. The only true monopoly within the US marketplace is where these politicians are fulfilling their posts.
Since government regulatory practice has gone beyond making loans to illiquid-but-solvent banks, to paying back all the deposits of insolvent banks, the result is that there is no reason for depositors to care about whether their bank is taking excessive risks.
If you care about the people struggling to keep their jobs in a difficult economy, you should oppose raising the minimum wage: it hurts the very people you want to help
Trade allows each of us to turn our unique talents into the fruits of the talents of everyone with whom we trade.
What Robert Reich Gets Wrong about the Kroger-Albertson Merger and What He Misses Completely
While Hamilton, who died in a duel in 1804, did indulge protectionist arguments during his stint as Secretary of the Treasury, the rebranding of Jefferson and Madison as American System enthusiasts runs directly contrary to historical evidence.
Unions must go about their objectives of trying to organize workers without committing acts of destruction.
The owners of private roads, those few in the know knew, would provide better roads at lower cost than Leviathan ever could.
What unseen effects did the “small present good” of a $558 billion highway network mask?
Supply-siders insisted that while there may be policy effects on the demand side, one cannot ignore the consequences of the changes such policies make to the incentives of suppliers and entrepreneurs.
The future of gaming won’t be determined by the Microsoft-Activision merger. But it could very well be undermined if the FTC succeeds in blocking the merger.
There is no plausible case to be made that for us Americans to improve our comparative advantages, we need the government to protect any of us from foreign competition, other than the protection of individual rights.
Reinforcing what economic theory tells us, evidence of the harm of price controls abounds in history, from the infamous 303 A.D. Edict of Emperor Diocletian in Ancient Rome to America’s 1970s gasoline price controls and, perhaps most infamously, New York City’s disastrous eight-decade-long experiment with rent control.
Unionized workers effectively form a cartel that would be illegal under antitrust laws as an obvious “restraint of trade” if unions had not been specifically exempted from the rules.
The problem isn’t so much that a company takes ideological considerations into account in its business practices so much as that governments — such as state-run pension funds — are imposing ideological agendas on businesses via this financial control.
In a free market, the prices of products tend to be governed by their costs of production.
FTX and its subsidiaries, guided by SBF, had as much to do with “building a flourishing future” as ESG does with “creating a livable planet.”
Investors should be proud of what they do.
Modern-day Luddites oppose a different type of progress—gentrification.
Historic preservation is a pretense for dictating how others may or may not use their property.
One good way to understand the current monetary system is to gain a basic understanding of banking history.
The U.S. government has long been waging war on savings, making it the cause of, rather than the solution to, low savings rates.
In a free market, within the limit of his abilities, each person chooses that job which he believes offers him the best combination of money and nonmonetary considerations. In so doing, he simultaneously acts for his own maximum well-being and for that of the consumers who buy the ultimate products his labor helps to produce.
The better approach to disasters relies on private initiative, markets, and insurance instead of ineffective government bureaucracies and bloated budgets. Every aspect of disaster relief can be privatized, or rather re-privatized, and should be, if policymakers want to save lives and money.
The prerequisite for more economic equality in the world is industrialization. And this is possible only through increased capital investment, increased capital accumulation. You may be astonished that I have not mentioned a measure which is considered a prime method...
Speculative activity, of course, is not limited to anticipating just future scarcities. Rather, it seeks in general to balance consumption and production over time by accumulating stocks of commodities and regulating their rate of consumption.
To this day, private companies are castigated for “predatory lending.” Yet, it was government policy that incentivized loans to those who couldn’t afford to repay them.
We should celebrate, not resent, the grocers’ profits.
What is lacking in order to make the developing countries as prosperous as the United States is only one thing: capital-and, of course, the freedom to employ it under the discipline of the market and not the discipline of the government.
Amazon has made its platform so attractive to third-party merchants that large numbers of them willingly pay a premium in order to continue to use Amazon’s platform.
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