Laissez Faire vs. Interventionism
In eighteenth-century France the saying laissez faire, laissez passer was the formula into which some of the champions of the cause of liberty compressed their program. Their aim was the establishment of the unhampered market society. In order to attain this end they...
Capitalism is the Solution to the Problem of “Asymmetric Information”
It is capitalism and the competitive market process that generates solutions to the knowledge problems of the society, including the “informational asymmetry” that naturally follows from any developed social system of division of labor.
How Ayn Rand’s Philosophy of Objectivism Can Rescue Hayek’s Economics
In economics Hayek is a radical; but in philosophy, unlike Ayn Rand, Hayek is a conservative.
As the U.S. Government Grows, American Prosperity Slows
Economic growth has been faster when the federal government has been smaller (relative to GDP) – and vice versa.
Trump’s ‘Infrastructure’ Plan Versus Obama’s ‘Stimulus’: Part II
“I cannot undertake to lay my finger on that article of the Constitution which granted a right to Congress of expending, on objects of benevolence, the money of their constituents.”
Defending Capitalism: Ayn Rand vs. Hayek
Ayn Rand publicly recommended the works of Mises but not of Hayek. Today, when Hayek is much better known than Mises, it’s worth seeing why. I came to the full realization of what’s wrong with Hayek’s approach while re-reading Atlas Shrugged. No, not...
The Three Economic Elements About Capitalism
Those three elements are (a) division of labor; (b) impersonal exchange based on prices; and (3) economies of scale based on knowledge.
Roads Are Not Public Goods
Some creative rethinking can put us on the road to a better tomorrow.
Capitalism and How Expectations Coordinate Markets
Open, competitive markets have a resilient capacity to successfully coordinate the actions of, now, billions of people around the world. With an amazing adaptability to changing circumstances, the actions and reactions of multitudes of suppliers and demanders are...THE CAPITALIST ADVISOR
