Economics

Socialism vs Capitalism (video)

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On March 31, 2014 David Boaz presented the above speech as part of the ongoing Economic Liberty Lecture Series, a joint project of The Future of Freedom Foundation and the George Mason University Economics Society. David Boaz is the executive vice president of the Cato Institute and has played a key role in the development of ... [click for more]

The Calling: Some Thoughts on Inequality

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Perhaps no other issue is so much in the forefront of political debate these days as inequality. Many commentators argue that one of the most damaging things happening in the United States is increasing inequality. Often this argument is tied to criticisms of markets, as if somehow free markets, or capitalism, are the cause of this supposed increase. It’s that ... [click for more]

The Logic of Crisis and Leviathan and Why It Still Holds (video)

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On February 17, 2014 Robert Higgs presented the above speech as part of the ongoing Economic Liberty Lecture Series, a joint project of The Future of Freedom Foundation and the George Mason University Economics Society. Robert Higgs is Senior Fellow in Political Economy for The Independent Institute and Editor at Large of the Institute's quarterly journal ... [click for more]

Give America a Raise?

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President Obama said something especially perplexing when he implored Congress during his State of the Union address to “Give America a raise.” Since when does Congress have the power to do that? We live in a nominally private-enterprise economy, so it should strike the ear as odd to hear Obama acknowledge that it’s not a private-enterprise economy at all, ... [click for more]

Let’s Make 2014 the Year of Freedom for Low-Wage Workers

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The federal budget deficit was big in 2013, but not as big as the freedom deficit. We should all resolve to make 2014 the year that we secure our freedom from government, the biggest threat we face. We can start with freedom for low-wage workers. Hundreds of occupations are closed shut unless one has a license. To get the license, one ... [click for more]

TGIF: The Pope Dabbles in Economics

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Pope Francis wrote in his recent apostolic exhortation, “Just as the commandment ‘Thou shalt not kill’ sets a clear limit in order to safeguard the value of human life, today we also have to say ‘thou shalt not’ to an economy of exclusion and inequality.” He’s right — but not in the way he intends. Before I elaborate, ... [click for more]

Mandela Wasn’t Radical Enough

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I suppose we will forever be subjected to incomplete accounts of the life of Nelson Mandela and the evil he struggled against. Both the Right and the Left (as conventionally defined in America) are too busy pushing agendas to provide the full story. On the establishment Right (with some honorable exceptions) apartheid was deemed unimportant in the context of the ... [click for more]

The Calling: Why I Defend Walmart

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In the aftermath of Black Friday (or now Thursday, I guess), much will be written about Walmart.  It remains the favorite whipping boy of many on the left, not to mention their enablers in what Deirdre McCloskey calls “the Clerisy,” or what Hayek called “the second-hand dealers in ideas.”  More broadly, even those without strong left-leaning opinions often have ... [click for more]

Worshiping a False Idol: Why Money Is No God

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A few weeks ago I was out to lunch with a group of friends when the subject of money came up. One person at the table said that we should replace the phrase “In God We Trust” on currency with “This Is Your God.” To my surprise, there was very little pushback to that and even a few people ... [click for more]

The Business Cycle Explained

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It Didn’t Have to Be This Way: Why Boom and Bust Is Unnecessary — and How the Austrian School of Economics Breaks the Cycle by Harry C. Veryser (Intercollegiate Studies Institute 2012), 318 pages. This is one instance where a book’s subtitle tells the reader much more about its content than the title does. You know at once that ... [click for more]
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