The basic and crucial political issue of our age is: capitalism versus socialism, or freedom versus statism. For decades, this issue has been silenced, suppressed, evaded, and hidden under the foggy, undefined rubber-terms of “conservatism” and “liberalism” which had lost their original meaning and could be stretched to mean all things to all men. – AYN RAND
It took a collapsing bridge in Minnesota to alert people across the country to the fact that many other bridges in many other places have been allowed to deteriorate without adequate maintenance. If this were just a matter of poor political leadership at various...
Historical costs, sometimes called sunk costs, are irrelevant to decision-making because they are costs that have already been incurred. That’s something that’s not intuitively obvious, even for some trained economists. On a couple of occasions, I’ve...
Sometimes the advocates of socialized medicine claim that health care is too important to be left to the market. That’s why some politicians are calling for us to adopt health care systems such as those in Canada, the United Kingdom and other European nations....
On July 11, New York Times reporter Patricia Cohen wrote an article titled, “In Economics Departments, a Growing Will to Debate Fundamental Assumptions.” The article begins with, “For many economists, questioning free-market orthodoxy is akin to...
Michael Moore loves government. OK, he doesn’t love a government headed by George W. Bush, but he believes that once the Democrats are in charge, government will do a better job providing health care. In his new movie, “Sicko,” he praises...
Americans rightly admire our troops for their bravery, dedication and integrity. The Marines, for instance, are renowned for abiding by an honorable code–as warriors and as individuals in civilian life. They epitomize the rectitude of America’s soldiers....
I interviewed Michael Moore recently for an upcoming “20/20” special on health care. It’s refreshing to interview a leftist who proudly admits he’s a leftist. He told me that government should provide “food care” as well as health...
President Bush and his pro-amnesty allies both in and out of Congress suffered a devastating defeat at the hands of the American people. Like any other public controversy, there are vested interests served on both sides of the amnesty issue, but I’d like to...
Last week, I bemoaned New York Times columnist David Brooks’s eagerness to have government impose force on others. He was promoting programs like “National Service.” Why are many conservatives so eager to wield force? Conservatives used to complain...
Just about the most difficult lesson for first-year economics students, and sometimes graduate students, is that economic theory, and for that matter any scientific theory, is positive or non-normative. You might ask, “What’s this business about positive...
Back in the late 1960s, during graduate study at UCLA, I had a casual conversation with Professor Armen Alchian, one of my tenacious mentors. Professor Alchian is among the top 20th-century contributors to economic knowledge. During our graduate student/faculty coffee...
“Reviving the Hamilton Agenda.” That’s the headline the New York Times gave David Brooks’s recent column honoring Alexander Hamilton, the Founding Father perhaps least interested in limiting political power. Unlike his rival Thomas Jefferson,...
Should the federal government require everyone to buy health insurance? If the goal is “universal coverage,” then obviously the answer is yes. But that isn’t the point. The point is that it isn’t the duty or right of the government to force...
Suppose a person is raped and we arrest the rapist. Should his status, whether he’s a senator, professor or an ordinary man, play a role in the adjudication of the crime and subsequent punishment? I’m betting that the average person would answer that the...
Independence is the foundation of America. Independence is what should be celebrated on Independence Day.
The U.S. government now pays for and controls half of the health care in America. That is up from less than 10 percent forty years ago. Government spending on health care has increased at a rapid rate as its share of health care has increased. Yet those who complain...
Bush’s disastrous foreign policy–especially the Iraq fiasco–has led many to conclude that diplomatic “engagement” is our best hope for stopping Iran’s nuclear program. But while Bush’s policy is a failure, engagement is not...
Dropping out of college didn’t stop Bill Gates from making tons of money, but it kept him from classes where he might have learned about the beauty of spontaneous market processes. Never mind. I forgot that he attended Harvard. He might not have learned about...
They say health care in the United States is outrageously expensive because of a failure of the free market. But we don’t have a free market in health care. States throughout the country regulate private health insurance, and have turned it into a...
Environmentalists are quick to lecture the rest of us about the ways of nature. Don’t clean the dead trees off the forest floor, it’s natural. Cattle and horses on the range aren’t native, so let the grizzles and wolves devour them, it’s...
Global warming alarmists are a clever bunch. They have very carefully changed the issue from “global warming” to “climate change.” Now any change in weather, be it mild winters or cool summers can be attributed to “climate change.”...
The Colorado Blue Ribbon Commission on Health Care Reform recently selected four proposals for health care reform for eventual consideration by the state legislature. Although they differ in their details, these differences are dwarfed by their fundamental similarity...
The U.S. Food and Drug Administration (FDA) is charged with ensuring that only safe and effective drugs are marketed. Such a task is highly complex and fraught with difficulties. Consumers, the ostensible beneficiaries, should examine and question the incentive...
According to the National Assessment of Educational Progress (or NAEP), the average high school student is an incompetent writer. To evaluate their writing ability, testers asked high school juniors to write a paragraph based on notes they were given about a haunted...
In my recent article “ The Failure of Field Trips ,” I explained what is wrong with traditional school outings. The typical field trip is irrelevant to the students’ education, either because they have been unprepared to appreciate it by their...
What should our response be if terrorists set off a nuclear explosion, or some other weapon of mass destruction, in one of our cities? I put this question to Professor Victor Hanson, senior research fellow at Stanford University’s prestigious Hoover Institution,...
Some people hate me because I defend free markets. Once someone accosted me on a New York City street and said, “I hope you die soon.” Why the hostility to commerce? What could be more benign than the freedom to trade with whomever you wish? I suspect...
Last Wednesday the House of Representatives passed legislation instituting penalties of up to $150 million for companies and up to $2 million and 10 years’ imprisonment for individuals found guilty of gasoline “price gouging.” But the real gouger...
With gasoline prices at their highest point in recent years, the knee-jerk response of many is to call for the government to “do something” to force prices lower. But no matter what the price of gasoline is, such calls are wrong. All market fluctuations in...
Last week, Japan pledged $100 million in grants to fight global climate change. The UN’s Intergovernmental Panel on Climate Change (IPCC) is the world’s major leader in the struggle against climate change. The World Conservation Union has recently...
The federal government keeps growing, as I pointed out last week, but the Bush administration has cut tax rates a few times since 2001. How can that be? The answer is simple: deficit spending. Some Republicans argue that deficits don’t matter; that if you cut...
Bill Clinton once declared, “The era of big government is over.” Both Republicans and Democrats applauded. What a joke. Government grew under Clinton, and grew even faster under his successor. Government is so big today that more than half the population...
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