Economics

What’s Wrong with Bernie Sanders’ 32-Hour Work Week Bill

A shortening of the hours of work is a highly desirable goal. But it cannot be achieved along with growing prosperity except in a free market.

Let a Billion Preferences Bloom

Let a Billion Preferences Bloom

There isn’t much room for diversity and dissent, however, when everything is decided politically. Mass customization and diversity are commercial society’s virtues. Mass regimentation and uniformity are political society’s vices. The stark contrast is clear in the proximity between Halloween and Election Day.

The Myth of the Failure of Capitalism

The Myth of the Failure of Capitalism

The nearly universal opinion expressed these days is that the economic crisis of recent years marks the end of capitalism. Capitalism allegedly has failed, has proven itself incapable of solving economic problems, and so mankind has no alternative, if it is to survive, than to make the transition to a planned economy, to socialism.

The Curse of Automation

The Curse of Automation

“A curse on machines! Every year, their increasing power devotes millions of workmen to pauperism, by depriving them of work, and therefore of wages and bread. A curse on machines!”

The Importance of the Middleman

The Importance of the Middleman

They would gladly suppress the capitalist, the banker, the speculator, the projector, the merchant, and the trader, accusing them of interposing between production and consumption, to extort from both, without giving either anything in return.

No Better Investment Than Taxes?

No Better Investment Than Taxes?

It is nonsense to say that the Government officer will spend these hundred sous to the great profit of national labour; the thief would do the same; and so would James B., if he had not been stopped on the road by the extra-legal parasite, nor by the lawful sponger.

A May Day Remembrance

A May Day Remembrance

The inescapable conclusion of the Mises-Hayek argument about socialist calculation is that an efficient socialist society cannot be designed.

Supply-Side Panglossians are Not Objective

Supply-Side Panglossians are Not Objective

Capitalism (and economic analysis) requires reason, not faith, facts, not what feels good. The supply side is the right side, but the Pollyannas must cease their bias and at least try becoming more objective. They must defend the right policies, not merely those imposed by politicians they deem to be in the right because they are on the right.

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