The Global Economy Needs Freedom for Peace and Prosperity

The Global Economy Needs Freedom for Peace and Prosperity

How many bureaucrats are there in the world? The global population currently numbers more than 7.5 billion people. Out of that number it is estimated that the global labor force equals almost 3.5 billion, or a half a billion less than half of all the people on the...
Collectivism Destroys Business

Collectivism Destroys Business

As a defender of business, whenever I read or hear collectivist claims that the Western ideal of individualism “harms society,” I cringe. Typically, the claimants belong to a group (such as  a race, a class, a language minority) the membership of which yields them...
Capitalism Prevents Harmul Monopolies

Capitalism Prevents Harmul Monopolies

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,...
Keynesian Aggregate Demand and Supply Derangement Syndrome

Keynesian Aggregate Demand and Supply Derangement Syndrome

The fundamental flaw in Professor Bradford DeLong’s view, as in John Maynard Keynes’ 1936 book is the idea that there exists a macro-economy the two sides of which are composed of aggregate demand and aggregate supply. It has been more than 80 years since the...
Justice Demands That We Should Celebrate Diversity in Wealth Too

Justice Demands That We Should Celebrate Diversity in Wealth Too

In most realms of life today, diversity and variety are justifiably celebrated and respected. Differences in athletic and artistic talent, for example, entail not only robust, entertaining competitions, but fanatics (“fans”) who respect, applaud, award, and handsomely...
What a Dictator Does to an Economy

What a Dictator Does to an Economy

The US president has rightly denounced Venezuela’s Nicolas Maduro as a dictator who violates the “rule of law” and has ruined that country’s economy through arbitrary rule over its business sector. Good. Now let’s apply that principle closer to home. “They better damn...
Fallout from the Trade Wars

Fallout from the Trade Wars

Despite strong economic growth, U.S. equity performance has faltered badly a couple times this year, perhaps primarily because of growing fears about the fallout from the current president’s trade wars.  Although his administration justifiably cut corporate tax rates,...

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