Economics

The Continuing Economic Crisis

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President Obama has been rightfully criticized for his observation that “the private sector is doing fine.” The statement was a glaring indication that the president has no understanding of the country’s economic problems and therefore has no idea how to solve them.   The Romney campaign was quick to make use of the president’s gaffe, running ads accusing ... [click for more]

No Sweat: How Sweatshops Improve Lives and Economic Growth (video)

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On April 23, 2012, Benjamin Powell gave the following speech at The Future of Freedom Foundation’s “Economic Liberty Lecture Series.” The speech can viewed below in its entirety. Benjamin Powell is an associate professor of economics at Suffolk University, the President of the Association of Private Enterprise Education, a senior economist with the Beacon Hill Institute, and a senior ... [click for more]

Open Societies and Spontaneous Orders

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Popper, Hayek and the Open Society by Calvin Hayes (London/New York: Routledge, 2009); 284 pages. Friedrich A. Hayek and Karl Popper were two of the most influential and internationally recognized critics of totalitarian collectivism in the 20th century. Hayek’s Road to Serfdom (1944) and Popper’s Open Society and Its Enemies (1945) helped change the intellectual climate at a time when ... [click for more]

The Crash of 2008 and its Implications

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On March 19, 2012, Scott B. Sumner gave the following speech at The Future of Freedom Foundation’s “Economic Liberty Lecture Series.” The speech can viewed below in its entirety. Scott Sumner is Professor of Economics at Bentley University. His areas of interest are macroeconomics, monetary theory and policy, and history of economic thought. He has published articles in the ... [click for more]

Economic Fallacies

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In On Liberty John Stuart Mill wrote, “He who knows only his own side of the case, knows little of that.” This is an especially important principle for libertarians. We rely on persuasion to win adherents to the freedom philosophy. To persuade, one must use effective techniques of rhetoric. Just as important, one must know what one is arguing ... [click for more]

Government Can’t Stimulate an Economy

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Barack Obama won’t use the “stimulus” label to describe the nearly half-trillion-dollar jobs bill he sent to Congress in September, but that refusal can’t hide the fact that he has no idea how economies recover from recessions. “Stimulus” is a tainted label because his $800 billion bill in 2009 was a failure. Somehow a package about half that size ... [click for more]

Price Discrimination Is Fair and Just

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While on a recent cross-country flight, I looked around at the 200 or so other passengers on the plane and thought, not about the snacks we would be served (pretzels), the movie we would be shown (Rise of the Planet of the Apes), or whether the babies on the flight would cry the whole way (they did), but about ... [click for more]

Opponents of Occupy Wall Street Harm the Cause of Freedom

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After many weeks, Occupy Wall Street and its kindred demonstrations around the country are still a source of headline controversy — even aside from the police manhandling of protesters. And yet the disparate coalition of discontent with contemporary America has not coalesced around a single set of aims. Unfortunately, the loudest voices call for more government management of the ... [click for more]

Visible Projects, Hidden Destruction

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Today’s crop of central planners and big spending politicians could learn a thing or two about economics from Henry Hazlitt’s classic bestseller, Economics in One Lesson, published in 1946. Common sense doesn’t have an expiration date. “There is no more persistent and influential faith in the world today than faith in government spending,” Hazlitt wrote. “Everywhere government spending is presented ... [click for more]
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