We are treating students precisely the way we shouldn’t if we are trying to help them become resilient, functioning, and free people.
Education suffers from the same dilemma as state-run health care: the potential for cost saving remains unfulfilled since no incentives for efficiency exist. In order to get the subsidies and the other benefits from government, the universities must adhere to specific bureaucratic rules.
This year AIER has published a constant stream of outstanding content from some of the best writers in the social sciences. The range is remarkable: current commentary, deep research, historical material, pure theory, logical analytics, and so much more.
Will large, vertically integrated firms as we have known them disappear?
They want us to use rags, sponges, and mops again for all our small spills in the kitchen? Forget it. We don’t want cross contamination. We don’t want stinky sponges around our food. We don’t want to drag out buckets and rags just to remove that spilled milk on the counter. We don't need a new paper-towel tax; such a thing might inspire riots in the streets, and should. Our hands will be cold and dead before they pry the paper towels from our fingers.
Markets guided by prices daily lead each of us to share happily and abundantly with each other despite the reality that we are, to each other, mostly strangers. Familiarity, affection, and brotherly love are virtuous feelings but these feelings do not contribute as reliably to our material well being as does market exchange.
Since neither politician, activist, nor voter are held responsible for our actions when a policy goes wrong, blame (or praise for that matter) is also highly distributed. This distribution of blame then diminishes the responsibility of those who might plausibly be held most culpable for the bad consequences.
The theory of perfect competition should be utterly rejected, both as a theory of competition (which it is not) and as offering an appropriate standard against which to judge real-world markets (which it does not).
There is an indissoluble link between capitalism and the stock market. Over the long run, stocks will rise when capitalism flourishes and fall when the entrepreneurial spirit wilts. Therefore, a crash is not to blame on the stock market but on the erosion of capitalism that has preceded the collapse.
Women have come a long way. Isn’t it ironic, then, that women’s freedoms are today being constrained by misguided government policies enacted in the name of increasing that freedom? In other words, there are still battles yet to be won and disasters yet to prevent.
The public discourse concerning the state of the financial system that once took place in trade associations and committees of concerned citizens has disappeared, replaced by a cold and sterile managerialism practiced by an insular and self-perpetuating macroeconomic elite.
The wonderful movie based on the life of Freddie Mercury and his band makes a great case that commerce can be and is the friend to art. It has always been so, but we are only now fully coming to terms with what this implies for the artistic endeavor generally.