In a previous article, I wrote about mankind’s greatest invention: The Free Market System. History has proven that there is no other system heretofore created that has generated so much wealth and prosperity for the average person. Plus, no other
Capitalism 
Greece Should Learn from Ireland
Reprinted from the Independent Institute Greece missed its $1.8 billion loan repayment to the International Monetary Fund on June 30, and voters rejected the austerity measures creditors are demanding as the price of another bailout on last Sunday’s referendum. Greece
War on drugs and its effects on freedom and private property
Much has been written about the War on Drugs, especially its disastrous effects on the life of individuals, the economy, and the growth of the police state. All of this is caused by society’s need to reduce the use of
A Pseudo-Tax: Regulation of Public Utilities
Introduction Every American business and household is directly and indirectly impacted by the seemingly never-ending rise in public utility prices (including airports, electricity, gas, post, public transport, rail, seaports, telecommunications, and water & sewerage). The state and federal regulation of
How to Outsource Your Compassion to the Government
Reprinted from the Freeman I saw the mom and her two little kids camped out in the shopping center parking lot. She held a sign asking for help to feed them. I bought some oranges and bananas for them. Imagine
The Chimera of Contracyclical Policies
[Republished from Human Action (1949)] An essential element of the “unorthodox” doctrines, advanced both by all socialists and by all interventionists, is that the recurrence of depressions is a phenomenon inherent in the very operation, of the market economy. But while
Frédéric Bastiat Deserves a Posthumous Nobel
Reprinted from the Freeman If a posthumous Nobel Prize was awarded for crystal-clear writing and masterful storytelling in economics, no one would be more deserving of it than Frédéric Bastiat (June 30, 1801–December 24, 1850). He set the standard over a
Gold and Economic Inequality
Reprinted from Mises.org Inequality is a top news items for 2015 driven largely by the Baltimore riots, the minimum wage debate, Thomas Piketty’s bookCapital in the Twenty-First Century, and now the entry of socialist Bernie Sanders into the race for
Baltimore’s Unemployed and the True Cost of Minimum Wages
Reprinted from Mises.org Since President Johnson first declared war on poverty in his 1964 State of the Union address, this war has cost US taxpayers $22 trillion. The primary implement of this war has and continues to be public assistance
Capitalist Planning and Socialist Chaos Part 2
Most of this essay has been extracted from portions of the author’s Capitalism: A Treatise on Economics, specifically pp. 137-139 and 269-273. Because of Its Destruction of the Price System, Economic Planning under Socialism Would Require the Existence of an
Capitalist Planning and Socialist Chaos Part 1
Most of this essay has been extracted from portions of the author’s Capitalism: A Treatise on Economics, specifically pp. 137-139 and 269-273. Economic planning is almost always thought to be an activity performed by governments. In contrast, the activities
My Advice for Greece
Leave both the European Union (EU) and the European Monetary Union (EMU). These are very flawed institutions. In his prescient book Tragedy of the Euro, Professor Philip Bagus uses the term “misconstructed”, which I think is very descriptive of
Keep Your Old Dimes Safe
As a child I was told by my grandfather to keep an eye out for old dimes and to keep them because while dimes minted before 1967 were 80% silver, dimes minted from 1968 onwards were 99.9% nickel. While both
The Logic of Interventionism, or How to Wake up in a Prison
Reprinted from Acting-man.org Archaic Financial Freedom The mainstream press is still full of articles about the alleged evils of cash, which we regard as a typical “trial balloon” launched by the powers-that-be. The way this works is that they get
How to Eliminate Teachers’ Strikes
These past few months have seen teachers in a number of school boards in Ontario go on strike and engage in other pressure tactics as teachers’ unions prepare for another round of collective bargaining with the province. Predictably, this has
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Austrian Business Cycle Theory: Answering the Critics
According to the economists of the Austrian School, artificial credit expansion is the primary factor behind the business cycle. Critics have tried to poke holes in the theory, but David Howden shows those holes are just an illusion. https://www.youtube.com/watch?v=oVR79OJgGvA&feature=youtu.be
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Millions in Brazil Follow a Teen Leader to Freedom
Reprinted from the Freeman “I like a little rebellion now and then,” Thomas Jefferson famously wrote. The primary author of the Declaration of Independence and America’s third president regarded rebellion as “like a storm in the atmosphere.” It clears the
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