Regulation Policy & Welfare

America’s Wars and the Los Angeles Riots, Part 1

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Part 1 | Part 2 For much of the 20th century, the United States government has waged its Wars on Poverty, Drugs, and Illiteracy. And there is no better evidence of the failure of these wars than the riots that occurred in Los Angeles. The principles that undergird America's economic system in our time are radically different from those under ... [click for more]

Electing Our Daddy

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For 125 years, the American people elected a president. During that time, the powers of the president were extremely limited. The American people did not permit the passage, for example, of income taxation, drug laws, and welfare laws. They also refused to permit a large standing military force. And they did not allow their government to engage in foreign ... [click for more]

The Dead End of Head Start

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Head Start is the only one of Lyndon Baines Johnson's welfare programs that works, or so we're told. The New York Times calls it "the Great Society jewel." And our Republican president, George Bush, asked for "record spending" on Head Start in his new budget. He even crawled around on the floor at a Head Start center, talking ... [click for more]

The Predilection for Planning: National Industrial Policy, Again

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It seems that no matter how many times governmental planning is implemented and fails, the temptation to try to design the economic system through political means remains irresistible. One of the reasons for this was explained in the 1880s by the English economist Walter Bagehot, who warned, "All Governments like to interfere; it elevates their position to make out ... [click for more]

Spending Our Way to Prosperity

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American politicians and bureaucrats continually bombard us with the notion that the road to prosperity lies in increased spending by the citizenry. It is one of the most destructive economic myths promoted by our governmental officials. And unless the American people carefully reason out the processes by which people ... [click for more]

Playing Monopoly in the Real World

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There are three major monopolies in the United States that have plagued the American people throughout most of this century. Yet despite their professed opposition to monopolies, the American people simply cannot bring themselves to end them. But end them we must — for they are among the most tyrannical and destructive aspects of the American welfare-state, regulated-economy way ... [click for more]

Quick Fixes and Economic Fallacies

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The famous English economist Alfred Marshall is reported to have once remarked that "students of social science must fear popular approval; evil is with them when all men speak well of them. If there is any set of opinions by the advocacy of which a newspaper can increase its sales, then the student . . . is bound to ... [click for more]

Monopoly

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I have been teaching economics at the university level for twenty-five years. Easily the most often-asked questions relate to monopolies. The questions are often put in the following form: "In an economy free of governmental regulation, wouldn't a firm or group of firms obtain a monopoly over some vital resource or ... [click for more]

Push the Button

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Should the welfare state be eliminated all at once or phased out over time? Some of the most committed freedom-devotees waffle when it comes to that question. They maintain that the immediate elimination of the welfare system would be unfair or harmful to those who benefit from the welfare apparatus. We must never lose sight of the fact that the ... [click for more]

Tyranny at the State and Local Level

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Tyranny at the state and local level is out of control. In order to benefit the politically privileged, state and local governments — like their national counterpart — are using their tax and regulatory powers to plunder and loot the citizenry. There are few better examples of this tyranny than the ... [click for more]

Collectivist Myths and Racial Prejudice

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One of the most effective Marxian methods of argument has been to claim that what appears as reality is in fact illusion. For over a hundred years, Marxists have insisted that such bourgeois freedoms as freedom of speech and press, and the right of contract and exchange, hide from view ... [click for more]
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