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Economics

Not Even the Sky Is the Limit

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The scheduled launch of the Space Shuttle Endeavour last month was supposed to be notable, not just because it was to be the last launch of this particular shuttle, but because of two special guests who traveled to the Space Center to witness the now-delayed launch. President Obama traveled to Florida for the launch, as did Gabrielle Giffords, the member ... [click for more]

The Debt-Ceiling Charade

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With respect to the debt ceiling, let me issue an easy prediction: The Republicans are going to cave. They are going to vote to raise the debt ceiling. Oh sure, there will be plenty of posturing. There will be expressions of anger and outrage over out-of-control federal spending, borrowing, and debt. There will be strategic political posturing, including threats ... [click for more]

Rehabilitating Lochner: Defending Individual Rights Against Progressive Reform (video)

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On February 7, 2011, David E. Bernstien gave the following speech at The Future of Freedom Foundation’s “Economic Liberty Lecture Series.” The speech can viewed below in its entirety. David E. Bernstein is Foundation Professor at the George Mason University School of Law in Arlington, Virginia, where he has been teaching since 1995. He was a Visiting Professor at ... [click for more]

The Physiocrats

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The Physiocrats, a group of 18th-century French economists, are often credited with founding Western political economy — the study of “laws” governing the production and distribution of wealth. The word “law” is not used in a legal sense. Rather it refers to a principle or governing rule, much as one might speak of the laws of physics. The Greek word ... [click for more]

Obamanomics: Growing the Pie or Dividing the Pie? (Video)

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On November 15, 2010, Jeffrey A. Miron gave the following speech at The Future of Freedom Foundations Economic Liberty Lecture Series. The speech can viewed below in its entirety. Jeffrey A. Miron is Senior Lecturer and Director of Undergraduate Studies in the Department of Economics at Harvard University and a Senior Fellow at the Cato Institute. Miron has previously ... [click for more]

Liberty, Legislation, and Law (video)

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On October 4, 2010, Donald J. Boudreaux gave the following speech at The Future of Freedom Foundations Economic Liberty Lecture Series. The speech can viewed below in its entirety. Professor Donald J. Boudreaux was the Chairman of the Department of Economics at George Mason University in Fairfax, Virginia, from August 2001 to August 2009. Previously, he was president of ... [click for more]

War Does Not Produce Prosperity

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Many bad ideas go under the rubric “Keynesian economics,” but perhaps the worst is that government spending — no matter what kind — can genuinely stimulate of an economy and increase the general welfare. To see how ridiculous this idea is, have a look at what the leading Progressive Keynesian, Paul Krugman, and leading conservative Keynesian, Martin Feldstein, agree on: ... [click for more]

The Addled Theories of John Maynard Keynes

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Where Keynes Went Wrong: And Why World Governments Keep Creating Inflation, Bubbles, and Busts by Hunter Lewis (Axios Press, 2010); 384 pages. In the wake of the bursting of the housing bubble and the resulting financial collapse, many politicians and high-profile economists (such as Nobel winner and New York Times columnist Paul Krugman) have missed no opportunity to push ... [click for more]

Federal Make-Work Jobs Betray Teenagers

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Politicians now pretend that government spending can solve any and all ills. Sloshing out federal funds for local summer job programs exemplifies this delusion. Uncle Sam first began bank-rolling summer jobs for urban teens in 1964. It was decided that government should hire any low-income teen who couldn’t find a job on his own. Soon, with the usual bureaucratic imperialism, ... [click for more]

Immigration Socialism versus Freedom and the Free Market

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Let me begin by making a very simple, direct point: There is one — and only one — solution to the so-called immigration crisis: freedom and free markets. Every other measure, including the recently enacted immigration law in Arizona, will accomplish nothing more than continue the “crisis” and actually exacerbate it. After all, how many times have we been here ... [click for more]

Liberalism Is the Enemy of the Poor

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I was a liberal back in my late 20s. I was practicing law in my hometown of Laredo, Texas, where I was serving on the board of trustees for the local Legal Aid Society, a government agency that provided free legal services for the poor. I also served as the local representative for the ACLU. I believed that government’s ... [click for more]

Capitalism and the Free Market, Part 1

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Part 1 | Part 2 Writing in the Guardian last January under the headline “Caribbean Communism v. Capitalism,” respected journalist Stephen Kinzer began his article like this (http://tinyurl.com/y8wfrxb): Visiting unhappy Cuba is especially thought-provoking for anyone familiar with its unhappy neighbours. Cubans live difficult lives and have much to complain about. So do Jamaicans, Dominicans, Haitians, Guatemalans, Hondurans, Salvadorans, and ... [click for more]
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