Regulation

The Self-Interest of Self-Regulation

Honest businessmen, who are well aware of the importance of customer goodwill, try to insure that their businesses are not harmed by the unscrupulous actions of others. Many of them have formed voluntary associations to provide self-regulation in their industries.

Politicians Not Letting The Coronavirus Crisis Go To Waste

Politicians Not Letting The Coronavirus Crisis Go To Waste

In normal times the government supports many bad, irresponsible, and unjust policies, driven in part by perverse incentives. Not the least of these is an imprudent eagerness to please special interests. Emergencies and the resulting panic only further loosen whatever weak restraints there normally are against government misbehavior and malfunction.

Profit motive and private property—keys to preventing forest fire damage

Profit motive and private property—keys to preventing forest fire damage

While it is too late to prevent the damage in Fort McMurray now, the solution to minimizing losses from fires in the future is to sell the government forests and let private owners manage them for long-term profitability—by protecting their own property and respecting the property rights of others (through good property management to reduce the fire hazard).

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