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The State’s Worst Atrocity

Wednesday, August 13th, 2014 by posted in Capitalism, Foreign Policy, History.
british-trench teaser

Reprinted from “The lamps are going out all over Europe,” Sir Edward Grey famously said on the eve of World War I. “We shall not see them lit again in our lifetime.” It was 100 years ago this week

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Fighting Fires

Friday, August 8th, 2014 by posted in Capitalism, Economics.
Forest-Fire teaser

Reprinted from According to Terry L. Anderson and Daniel Botkin, “Fighting Western Fires with Economics” is a good idea. Were I writing an essay with this title, I would emphasize the role of private property rights. If all forests

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How the Surge of Hot Money Pushes San Francisco to the Brink

Thursday, August 7th, 2014 by posted in Banking, Capitalism.
DowntownSF teaser

Reprinted from Wolf Street The median home price in my beloved and crazy San Francisco – that’s for a no-view two-bedroom apartment in an older building in a so-so area – after rising 13.3% from a year ago, hit an ultra-cool,

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Cooperation, Not Competition!

Wednesday, August 6th, 2014 by posted in Capitalism, Economics.
capitalism1 teaser

Reprinted from “Gym Now Stresses Cooperation, Not Competition,” blared a headline in The New York Times a decade ago. The story was about an elementary school where “confrontational” games, team sports, and elimination rounds were changed or scrapped so that differences between

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Rebels Will Inherit the Earth

Monday, August 4th, 2014 by posted in Capitalism, Economics, Regulation.
rebel teaser

Reprinted from To get to the coolest bar in Chicago — recently voted the best new bar in the U.S. — you turn down a small alley and walk half-way down until you get to a small blue light.

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London’s press jumps on QE bandwagon

Friday, August 1st, 2014 by posted in Banking, Capitalism, Economics.

First the Financial Times and now the Economist have jumped on the quantitative easing (QE) bandwagon and called for the European Central Bank to embark on a policy of buying assets in the open market at above market prices–with printed money, of course.  What

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The Right Way to View Entrepreneurship

Tuesday, July 29th, 2014 by and posted in Capitalism, Economics.
lightbulb- teaser

Reprinted from Mises Institute Senior Fellow Peter Klein and Associated Scholar Nicolai Foss were interviewed by Ángel Martín Oro for Klein and Foss discuss their 2012 book Organizing Entrepreneurial Judgment: A New Approach to the Firm, published by Cambridge University Press. Sintetia: The

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The Mighty Return of the Twinkie: A One-Year Retrospective

Monday, July 28th, 2014 by posted in Capitalism, Economics, Regulation.
twinkies teaser

Reprinted from It was November 2012 when the bankrupt Hostess company pulled the Twinkie from production and sent many generations of sponge-cake lovers, including me, into panic. Then only a 8 months later, July 15, 2013, all became right

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Easy Money Blood Thinners

Monday, July 28th, 2014 by posted in Banking, Capitalism, Economics.
Lehman Brothers fascia goes on sale at Christie's

Reprinted from the Pembroke Observer Since the collapse of Lehman Brothers investment bank in 2008, central banks around the world have created trillions of additional dollars, yen, euros and renminbi. In the immediate aftermath of Lehman’s bankruptcy other banks, unsure

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Governments Collude to Fleece the World

Friday, July 25th, 2014 by posted in Capitalism, Economics, Politics.

Re: Luxembourg tax regime under siege This recent article by Vanessa Houlder of the Financial Times, London, details the economic success that Luxembourg has enjoyed by keeping its business tax rates at a moderate level and the threat to that success

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Can a Leopard Change Its Spots?

Monday, July 21st, 2014 by posted in Capitalism, Politics, Regulation.

Last month an article entitled “The Lack of Major Wars May Be Hurting Economic Growth” was published in the New York Times. On first glance I thought the author, Tyler Cowen, was going to offer a standard argument for increased

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How Smugglers Made America

Monday, July 21st, 2014 by posted in Capitalism, Economics, War on Drugs.
border teaser

Reprinted from [Smuggler Nation: How Illicit Trade Made America by Peter Andreas, Oxford University Press, 2013.] Whenever I receive a book to review that is written by some hotshot ivy leaguer, I brace myself for all the deception and tomfoolery

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Snitches and the State

Thursday, July 17th, 2014 by posted in Capitalism, Economics, Law.

Former U.S. Congressman Barney Frank once described government as “the name we give to things we choose to do together.” It’s an innocuous-sounding phrase that provides fuel to progressives who want to use state authority against heretics of their liberal

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When Steelers Steal

Thursday, July 17th, 2014 by posted in Capitalism, Economics.
steel teaser

Reprinted from In Alabama last week, an estimated 900 union reps, politicians, local business owners, and their families rallied to raise awareness of supposed steel import dumping and how it threatens their way of life. They have a point. When a

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The Treaty That Wall Street Wrote

Wednesday, July 16th, 2014 by posted in Banking, Capitalism, History, Politics.
Ship-At-Panama-Canal-1 teaser

[From Inquiry (1977); reprinted in Wall Street, Banks, and American Foreign Policy (1995).] Reprinted from The Panama Canal question has already established itself as the hottest political issue for the coming year. Ronald Reagan, who almost rode to the Republican nomination last year on

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The Power and Glory of M&Ms

Tuesday, July 15th, 2014 by posted in Capitalism, Economics, History.
mms teaser

Reprinted from When we think of America’s greatest achievements — Hollywood, jazz, TexMex — we too often leave out what the 21st century may eventually reveal to be the greatest of all: M&M candies. How many times have you


The “Free” Market in Marijuana

Monday, July 14th, 2014 by posted in Capitalism, Civil Liberties, Economics, War on Drugs.

Washington may have recently become the second State to legalize marijuana sales, but that doesn’t mean selling weed has gotten any easier. A myriad of regulations have all but frozen some willing entrepreneurs into a state of inaction, fearful of

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How Great a Deal was the Louisiana Purchase?

Monday, July 14th, 2014 by posted in Capitalism, Economics.

Over at the Mises Institute, I recently tackled the problem of how good a deal several of America’s historical land purchases have been. While the cases of the Louisiana or Alaska purchases have gone down in history as demonstrating great

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The Importance of Capital Accumulation for Economic Growth

Friday, July 11th, 2014 by posted in Capitalism, Economics.

I’m at FreedomFest with Mises Canada. Earlier today I watched a panel and one of the participants–George Gilder–in the midst of a very impressive set of remarks made an offhand comment that is actually quite wrong. I am bringing this


College is Expensive Because High School is a Failure

Friday, July 11th, 2014 by posted in Capitalism, Economics, Education.
collegeclassroom teaser

It is easy to bemoan some prices for being too high. Economists, good economists at least, don’t take this tack. One of the great lessons in economics is that there is no such thing as a good (low) price or