Economics and Economic Freedom

A free and prosperous society requires a functioning market economy at its foundation. Using a broad array of tools drawn from price theory, public choice analysis, Austrian theory, and classical empiricism, our study of economics and economic freedom explores the underpinnings of the market system, the roots of economic prosperity, and emerging threats to the same in the public policy sphere. Our work includes the measurement of freedom and providing practical economic information for people to make better decisions.

Articles

Universities That Should Lose Their Accreditation Immediately

“Accreditation is the ‘key to the kingdom’ of federal and state subsidies and widespread recognition of some minimal level of curricular competence. Most students will not attend a university that is not accredited because they cannot obtain financial aid and most employers will not recognize any coursework or degree as a bona fide credential unless the university is accredited.” ~ Robert E. Wright

On Frank Knight, Intelligence and Democratic Action

“Intelligence and Democratic Action is the work of a distinguished and influential scholar who spent a lifetime wrestling with the tensions between the real and the ideal, the actual and the imagined. It is a brief but deep exploration of the contours of the social sciences, and it is worth serious consideration by anyone concerned with the foundations of a free and prosperous society.” ~ Art Carden

The Death of a Visionary Retailer Reminds Us of Private Equity’s Genius

“Instead of sitting on their hands, these investors are energetically reshaping commerce for the much better with their bold capital commitments. Rather than demonize private equity, we should cheer the progress that it personifies with an eye on reworking the tax code in order to encourage more of what’s mindlessly penalized.” ~ John Tamny

Do We Need Patents? A Look at Biological Innovations in 19th Century America

“Considerable resources are expended in the regulatory process to obtain (and defend) patents which may be unnecessary incentives to innovation. In the process, we may end up deterring innovation. With our presently heightened sense of the importance of research and development in setting our living standards, this possibility must be seriously taken into consideration.” ~ Vincent Geloso

How the Market Drives Down Costs

“The market forces of competition and price sensitivity, combined with increasing productivity that leads to higher wages, allow living standards to rise. However, government policies and perverse incentives can shield service providers from market forces, undermining competition and eroding U.S. standards of living.” ~ Ethan Yang

New Single-Family Home Sales Fell Sharply in May

“New-home sales fell again in May and supply conditions eased a bit. Rising prices, and somewhat higher mortgage rates should continue weighing on activity.” – Robert Hughes