Free Market

Book Review: The Moral Case for a Free Economy

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Defending the Free Market: The Moral Case for a Free Economy by Robert Sirico (Regnery Publishing, 2012), 213 pages. Critics of the free market assert that it fails the underprivileged, leads to income inequality, exploits the poor, and is at times downright cruel. They charge its defenders with being motivated by greed, selfishness, and materialism, and making a god out ... [click for more]

The Market Is a Beautiful Thing

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Market advocates tend to respect the intellect of their fellow human beings. You can tell by their reliance on philosophical, moral, economic, and historical arguments when trying to persuade others. But what if most people’s aversion to the market isn’t founded on philosophy, morality, economics, or history? What if their objection is aesthetic? More and more I’ve come to think ... [click for more]

Bangladeshi Workers Need Freed Markets

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Since November, more than a thousand Bangladeshi garment workers have perished in two tragic factory calamities: a fire in Tazreen and a building collapse in Savar, outside the capital, Dhaka. Bangladesh is a major exporter of apparel to the West and “is set to become the world’s largest apparel exporter over the next few years,” the Economist reports. ... [click for more]

Food Safety: A Market Solution

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The FDA is trumpeting, with unseemly giddiness, sweeping implementation of new rules within the now thoroughly moldered food-safety bill, passed two long years ago. Like any dish served past its prime, this one smells a bit off. As a producer in the ascendant food renaissance (defined by a sudden respect for all things small and local) I’ve noticed a curious ... [click for more]

Book Review: What Reality Teaches Us

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No, They Can’t: Why Government Fails — But Individuals Succeed by John Stossel (New York: Threshold Editions, 2012), 324 pages. John Stossel is the well-known host of Stossel on Fox Business. A graduate of Princeton, he has won an incredible 19 Emmy awards, is a five-time honoree for excellence in consumer reporting, and is a New York Times bestselling ... [click for more]

TGIF: The Myth of Market Failure

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In the language of economics, a market failure is, as David Friedman writes, “a situation where each individual correctly chooses the action that best accomplishes his objectives, yet the result is worse, in terms of those same objectives, than if everyone had done something else.” As a rule, the pursuit of individual good in the market ... [click for more]

Market Manipulations

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With all the government meddling in the economy, it is virtually impossible to sort out free-market functions from political manipulations. It is also impossible to predict the economy’s future performance with any degree of accuracy. There are simply too many variables, and with most economic data being manipulated to serve political agendas, the chances of getting an accurate picture ... [click for more]

Right-to-Work Laws and the Modern Classical-Liberal Tradition

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It’s not widely known, but an earlier generation of libertarians condemned so-called right-to-work laws as anti-market. For example, Milton Friedman, in Capitalism and Freedom, compared right-to-work to anti-discrimination laws. Ayn Rand also opposed right-to-work laws. The Spring 1966 issue of the libertarian student-run journal New Individualist Review carried Prof. Hirschel Kasper’s article “What’s Wrong with Right-to-Work Laws.” NIR was ... [click for more]

Women, Discrimination, and a Free Society

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For the first time in its history, South Korea has elevated a woman to the office of president. Newly elected Park Geun-hye is the daughter of the president and dictator Park Chung-hee, who ruled the country from 1961 until his assassination in 1979. During her presidential campaign, she pledged to increase government aid to single parents, expand maternity and paternity ... [click for more]

TGIF: Right-to-Work Laws and the Modern Classical-Liberal Tradition

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It’s not widely known, but an earlier generation of libertarians condemned so-called right-to-work laws as anti-market. For example, Milton Friedman, in Capitalism and Freedom, compared right-to-work to anti-discrimination laws. Ayn Rand also opposed right-to-work laws. The Spring 1966 issue of the libertarian student-run journal New Individualist Review carried Professor Hirschel Kasper’s article “What’s Wrong with ... [click for more]

Two Extraordinary African-American Entrepreneurs

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As the 19th century neared its end, two African-American women became rivals as they became millionaires in the beauty-care industry. Annie Turnbo Pope Malone and Madam (Sarah) C.J. Walker were wildly successful entrepreneurs at a time when both blacks and women were marginalized by society. Annie and Sarah broke racial and sexual barriers; they created economic independence for an ... [click for more]

Look for the Union Liable

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Unions are now more empowered and more desperate. They feel empowered because a radically pro-union president has been elected for a second term. An Investor’s Business Daily headline (Nov. 21) proclaimed, “With Obama Win, Big Labor Feels Its Oats.” The article explained, Unions are feeling their oats after the re-election of President Obama. It’s comparable to the perception ... [click for more]
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