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Economics

Paper Money and the Constitution

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Why do we have a Constitution? How and why did it come into existence? Just what, exactly, prompted the calling of the Constitutional Convention, which gave birth to it? Most Americans believe, logically enough, that with the passing of the British from the scene it was simply time to create a new government to take the place of the ... [click for more]

Economic Stimulus Amounts to Central Planning

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That there will be a huge “stimulus” package in the early days of the Obama administration is a certainty. Nearly everyone thinks the government must do something drastic to, using President-elect Obama’s word, “jolt” the economy into recovery. That something is deficit spending on “infrastructure.” But it’s not as ... [click for more]

No, the Government Can’t

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Barack Obama will assume the presidency on a wave of hope among millions of Americans that he will deliver on promises that countless politicians have made before him. Rising above partisanship and committed to solving long-festering problems, Obama will inspire and unify the American people and, as a result, ... [click for more]

The Corporate State Wins

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The Senate’s passage of the $700 billion bailout of Wall Street, and its presumed acceptance by the House, exposes once and for all the true nature of the American political-economic system. It is free-enterprise in name only. In fact, and especially for large well-connected companies, it is nothing of the ... [click for more]

The Corporate State Fails

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According to popular myth, the current financial turmoil is the result of Bush administration deregulation. One problem with that theory: there was no deregulation. The last banking deregulation, the Gramm-Leach-Bliley bill, was signed by President Bill Clinton in 1999. Oops. Gramm-Leach-Bliley undid the New Deal-era Glass-Steagall ... [click for more]

The Scope of Public Choice Theory

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Prague, Czech Republic. In October 1985 (I think it was) Professor James Buchanan, now at George Mason University's Department of Economics, received the Nobel Prize in his discipline for his pioneering work — in collaboration with Professor Gordon Tullock — in what came to be called public choice theory. The ... [click for more]

Private Roads Work

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The issue of private roads stymies those who might otherwise be diehard libertarians. They can see how abolishing public education makes for better citizens and respects parental rights. They understand that Medicare, Social Security, and other government transfer programs are immoral abominations. They might even be so enlightened as to think that people should be ... [click for more]

Restoring the Republic Is More Important than Ever

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In 2007 and 2008 The Future of Freedom Foundation hosted two important conferences, “Restoring the Republic: Foreign Policy & Civil Liberties.” The final collection of 45 speeches — delivered by a unique combination libertarians, conservatives, and liberals — is possibly the greatest collection of talks giving the libertarian case on ... [click for more]

Pickens Plan Is Based on Ignorance

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Can a person be a good businessman but a lousy economist? Yes. Take T. Boone Pickens, for example. Hes all over television touting his plan for wind power as a substitute for foreign oil, a plan that calls for massive government subsidies. This should immediately make us suspicious. If wind is so good, why does it need subsidies? In trying ... [click for more]

Memoirs of a Longtime Libertarian

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Who is he? What makes him tick? Why should anyone else care? I’m the one who cares and this is why I’m what I am. I am an individual and there is no one like me. Some individuals question some of the thoughts I have so I’ll give some of my background and ... [click for more]

Ominous Parallels

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The economic situation in Zimbabwe is dire. A hamburger costs billions of dollars. Vending machines are breaking down from the sheer volume of coins needed to vend a single soda. Zimbabwean workers can barely make ends meet. Their earnings are not rising fast enough to keep up with the prices, which ... [click for more]
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