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Economic Ideas: Adam Smith on Free Trade, Crony Capitalism, and the Benefits from Commercial Society

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Adam Smith’s central contribution to economic understanding was surely his demonstration that under an institutional arrangement of individual liberty, property rights, and voluntary exchange the self-interested conduct of market participants could be shown to be consistent with a general betterment of the human condition. The emergence of a social system of division of labor makes men interdependent for the necessities, ...

Power to the People: John Lennon’s Legacy Lives On

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“You gotta remember, establishment, it’s just a name for evil. The monster doesn’t care whether it kills all the students or whether there’s a revolution. It’s not thinking logically, it’s out of control.” — John Lennon (1969) Militant nonviolent resistance works. Peaceful, prolonged protests work. Mass movements with huge numbers of participants work. Yes, America, it is possible to use occupations ...