Book Review: How Markets Work by Richard M. Ebeling March 1, 1998 How Markets Work: Disequilibrium, Entrepreneurship and Discovery by Israel M. Kirzner (London: Institute of Economic Affairs, 1997); 78 pages; £8.00. The revival of Austrian economics during the last 20 years is largely due to the original and numerous contributions of Israel M. Kirzner. Kirzner studied with Ludwig von Mises at New ...
What They Don’t Know by Sheldon Richman March 1, 1998 Vice President Al Gore says that if the tax on cigarettes is raised $1.10 a pack in the next five years, teenage smoking will drop 42 percent on average nationwide. Not 41 or 43 percent. Forty-two percent. Further, he says that 991,000 deaths from smoking would be avoided. ...
Policy Overdose by Sheldon Richman February 12, 1998 From 1990 to 1996 heroin use among high-school seniors was up one hundred percent. Imagine how bad things would be if the war on drugs weren't succeeding! A report published in the journal Pediatrics attributes the increase to the falling price and higher purity of heroin, and to the belief that snorting or smoking heroin ...
The Capricious State by Sheldon Richman February 2, 1998 A little noted passage in President Clinton's State of the Union speech offered a stark clue about the hypocrisy of politics. In announcing that his administration would sue the tobacco companies to recover money Medicare has spent on treatments for smoking-related illnesses, Mr. Clinton said, "Now, I ask this Congress to resist the tobacco lobby, ...
Pay Equity Errors by Sheldon Richman February 2, 1998 President Clinton has pledged to step up enforcement of the Equal Pay Act. The promised $14 million to fight wage discrimination was on his list of bribes to the American people, otherwise known as the State of the Union address. The president's Council of Economic Advisers says women make only 75 cents for each dollar men ...
Our Ultimate Resource Gone by Sheldon Richman February 1, 1998 On February 8, economist Julian Simon died. It is a grave loss on many levels. He was, first of all, a wonderful human being -- ever positive, smiling, and encouraging; a complete joy to be around. After that, he was one of freedom's great crusaders. When our age was ...
Compromise and Concealment-The Road to Defeat, Part 6 by Jacob G. Hornberger February 1, 1998 Part 1 | Part 2 | Part 3 | Part 4 | Part 5 | Part 6 Libertarianism is one of the grandest movements in history. And every single libertarian should feel proud to be a part of it. We follow in the tradition of George Washington, Thomas Jefferson, James Madison, David Crockett, Jim Bowie, ...
Monetary Central Planning and the State, Part 14: The New Deal and Its Critics by Richard M. Ebeling February 1, 1998 Part 1 | Part 2 | Part 3 | Part 4 | Part 5 | Part 6 | Part 7 | Part 8 | Part 9 | Part 10 | Part 11 | Part 12 | Part 13 | Part 14 | Part 15 | ...
Such a Deal! by Sheldon Richman February 1, 1998 Let's keep this among ourselves, but we nonrich folks have a good thing going. Even though we are of modest means, we have a huge staff of servants who perform valuable services for us. The best part is that we don't even have to pay them. For example, when VCRs ...
Drawing the Line by Sheldon Richman February 1, 1998 Socialism and communism have collapsed so completely that only a few holdouts refuse to acknowledge the rubble before their eyes. We've apparently reached "the end of history," as Francis Fukyama labeled the post-Cold War era a few years ago. But appearances can deceive. Some people are clearly uncomfortable with the ...
The Bipartisan Drug Warp by Sheldon Richman February 1, 1998 President Clinton promised recently to cut drug use by 50 percent over the next 10 years with the more than $17 billion--nearly a 7 percent increase--he's asked from Congress. Predictably, Republican House Speaker Newt Gingrich said the effort isn't enough. Those who hate partisan bickering might take comfort that each ...
Immigration Controls Cause Exploitation by Sheldon Richman February 1, 1998 Every so often, the news is filled with reports of the horrible exploitation of illegal immigrants. It might be the story of a dreary sweatshop where people work at low wages in unenviable conditions. Worse, it could be a report about the deaths of immigrants who suffocated while waiting in a ...