Free Market

A Real Agenda for a Renewal of Free Market Liberalism

by Richard M. Ebeling September 20, 2018

To mark its 175th birthday, the highly regarded and widely read British news magazine The Economist published a “manifesto” in its September 15, 2018, issue outlining its agenda for a renewed and relevant political and economic liberalism for the 21st century. But can it restore the liberal ideal at a time when liberalism is under attack from so many ...

The Market Democracy vs. Democratic Socialism

by Richard M. Ebeling September 6, 2018

Warnings are frequently heard nowadays that democracy is currently under threat. And with a demise of democracy will come a loss of liberty. Indeed, democracy and freedom are frequently heralded as being synonyms. An important question, however, is, What do these concepts mean, and are they in fact synonymous? A useful place to start is with a famous lecture delivered ...

Private Government in Genoa

by Lawrence M. Ludlow August 1, 2018

Genoa’s Freedom: Entrepreneurship, Republicanism, and the Spanish Atlantic by Matteo Salonia (Lexington Books, 2017); 214 pages. If the city of Genoa had advertised for security services in the 15th century, the job description might have looked like this: Security-Services Wanted Entrepreneurs in the city of Genoa recently fired the king of France and seek a replacement to provide ...

Free Market Capitalism as the Antidote to the World’s Ills

by Richard M. Ebeling June 4, 2018

Greek In following the daily news events both in the United States and around the rest of the world, it is easy to get lost in the detail and not step back once and awhile and remind ourselves what the really important issues are. Under the anxiety of a possible nuclear war in Korea, actual ...

Liberty, Law and the Market Economy

by Richard M. Ebeling January 15, 2018

The history of liberty and prosperity is inseparable from the practice of free enterprise and respect for the rule of law. Both are products of the spirit of classical liberalism. But a correct understanding of free enterprise, the rule of law, and liberalism (rightly understood) is greatly lacking in the world today. Historically, liberalism is the political philosophy of individual ...

Free Trade for Christmas (Trees)

by Scott McPherson December 19, 2017

Whether it's for cheap steel or cheap tires, Americans are supposed to be afraid of trade with China because it provides us with products we want at low prices. But to the damage allegedly inflicted on our economy by those who would save us money, must we now add...artificial Christmas trees? According to a November 27 story ...

An Audience with the Tyrant of Yemen

by Richard M. Ebeling December 11, 2017

The former president of Yemen, Ali Abdullah Saleh, was reported killed in the capital of Sana’a, on December 4, 2017, when he seemingly was changing sides in the on-going and brutal civil war in that country. I actually met Ali Abdullah Saleh in December 2006, when I was president of the Foundation for Economic Education. I was part of a ...

Capitalism and Asymmetric Information

by Richard M. Ebeling December 4, 2017

Capitalism is a wondrous human institution for the mutual betterment for all in society. Yet, critics often insist that market systems enable sellers to take advantage of buyers, because those on the demand-side often lack the specialized knowledge that suppliers possess, thus, enabling a possible exaggerated misrepresentation of what is being offered for sale. What is missed is that ...

The Libertarian Angle: Thanksgiving and the Free Market

by Future of Freedom Foundation November 28, 2017

FFF president Jacob Hornberger and Richard Ebeling talk about Thanksgiving and the free market. Go to the podcast.

Capitalism and the Misunderstanding of Monopoly

by Richard M. Ebeling November 27, 2017

Numerous misunderstanding and mythologies surround the meaning of capitalism and competition, but few match the confusions over the meaning and relevance of “monopoly” in the workings of the market economy. When looked at dispassionately, factually, and historically, monopoly has almost always represented a problem in society only when created, protected or imposed by government intervention. Critics of capitalism have proposed ...

Capitalism and Competition

by Richard M. Ebeling November 13, 2017

Market competition is at the heart of the capitalist system. It serves as the driving force for creative innovation, the mechanism by which market supplies and demands are brought into coordinated balance for multitudes of goods, and an institutional setting for individuals to freely find their own place to best earn a living in society. Yet, listening to the critics ...

The Libertarian Angle: Massacres in New York and Texas

by Future of Freedom Foundation November 7, 2017

FFF president Jacob Hornberger and Richard Ebeling discuss the recent attacks in New York and Texas. Go to the podcast.