Interventions inevitably generate imbalances in the market that will force the government to either repeal the existing interventions or extend them in the futile attempt to use new interventions to compensate for the distortions its prior interventions have created, until finally the market has been supplanted by the command economy through a process of incremental expansion of the regulations and controls.
Karl Marx’s stubborn political staying power also requires that we grapple with his theory in an intelligent fashion and that we engage him seriously even if we judge his conclusions wanting.
Steven Kates refutes Keynes’s caricature of the classical economists. Ultimately it is always goods that are traded for goods. Say’s Law, properly understood, explains both what causes unemployment and how to solve it..
Mises’s brilliant treatise continues to be read and taken seriously as a cornerstone for understanding the nature of the free society and the workings of the market economy.
The actual injustice is that America has sold out the region’s only free society, Israel—along with freedom-seeking people across the Middle East and among the Palestinian community—while empowering jihadist forces.
It is time for advocates of capitalism to come out of the closet.
Sowell shows that socioeconomic outcomes differ vastly among individuals, groups and nations in ways that cannot be easily explained by any one factor, whether it’s genetics, sex or race discrimination.
Philosopher Ayn Rand on why “the greatest good for the greatest number” is one of the most vicious slogans ever foisted on humanity.