Free Markets

Monday, April 2nd, 2018

It used to be a cliche to observe that libertarianism is neither left nor right. I don’t hear that much anymore, so it needs to be restated. Mostly it needs to be understood. Left and right emerged in the 19th century as a revolt against liberalism. They each favored different forms of statism to push back against the progress liberty was making possible. It remains the same today. 

Wednesday, February 28th, 2018

Yes, I’m suggesting a series of dramatic changes to the way employment works. No more payroll tax. No more withholding. No more health-care mandates. No more mandates of any kind. And no more policing of either hiring or firing by the state. In other words, free the market. Economic exchange is about equal power between negotiators, which only means that the same rules should apply to everyone. The more we mess with the freedom of contract, the more we privilege one party over another, with sometimes unpredictable results.

Sunday, February 25th, 2018

If not armed teachers, if not gun-free zones, if not gun bans, if not granting to the government an exclusive domain for security and the threat of violence, what is the answer? The least satisfying answer is actually the right one: we do not know precisely how to secure schools. We – “we” as in intellectuals, pundits, or society in general – do not know how to secure banks, jewelry stores, shopping malls, or casinos. How can we find out? By devolving that responsibility to institutions themselves, you allow the emergence of security solutions that are adaptive to the particular conditions of time and place.

Sunday, January 28th, 2018

To my mind, Creative Commons is an imperfect solution to a major problem, while the best solution would simply leave the whole problem of production, ownership, and attribution to the market itself. But that is not the world we yet live in. Until then, it’s a beautiful thing that the market has found a stop-gap solution to the intractable problems caused by one-size-fits-all standards of legislative imposition.

Wednesday, January 10th, 2018

The net effect of all of this has been to ruin our bathrooms. You might not realize it because the change has been slow, extending over 25 years. Only by encountering a bathroom with original fixtures from the 1940s can you perceive the full horror of what has happened. Our showers are lame, our toilets don’t work, our pipes are dirty, and everything is less sanitary. Chalk it up as yet another thing that government has ruined.

Friday, December 29th, 2017

For centuries, for millennia, we’ve relied on government to stop invasions of person and property. We live more safely than ever before, thanks to market-based technological improvements, not reliance on government. It was once believed that only government could provide security; this debate dates back centuries. Now we learn otherwise. We get security from the same source that provides us food, clothing, and shelter: the matrix of voluntary exchange and free exercise of human creativity.

Wednesday, December 27th, 2017

Sombart's leftism became rightism but it was made of the same substance always: a loathing of regular people in their free choices and a longing for history to follow his own imaginings of what should be rather than what is.

Such is the core of socialist ideology: a delusion rooted in snobbery and, above all else, intellectual pretense.

Thursday, November 16th, 2017

Let business fend for itself, competitively serving consumers rather than lobbying for government privileges.

Thursday, November 9th, 2017

We’ve heard that “there ain’t no such thing as a free lunch.” But in the internet age, free stuff abounds. 

Wednesday, August 2nd, 2017

Human dignity, autonomy, and social cooperation are best left to the tender hands of politicians and bureaucrats. Not!

Tuesday, July 25th, 2017

What is a market economy? We often talk about it as though it were a thing, perhaps a machine or a vehicle. Business reporters say it heats up or cools down. Sometimes it even gets stuck in a ditch. But it’s not a thing subject to heating or cooling or running off a road.

Monday, July 17th, 2017

The free market — indeed, a free society — is founded on individual rights, including the right to one’s justly acquired property. If the government’s rules regarding the use and disposal of property are “flexible,” a free society is doomed. 

Thursday, June 29th, 2017

President Trump has begun to flesh out his promise to rebuild America’s infrastructure.

Tuesday, June 27th, 2017

Business decisions should be made in the marketplace, not in the halls of government.

Tuesday, April 11th, 2017

As airlines often do, last week, United Airlines overbooked a flight. But this time, all was not well. Overbooked flights are nothing new. According to the Federal Transit Authority, U.S. airlines convinced over 400,000 passengers to give up their seat on an overbooked flight in 2016.

Monday, April 3rd, 2017

By now we should have figured out the cure for what ails the American health care system: a regimen of unadulterated competition. It’s just what the doctor (of sound economics, that is) would order.

Sunday, December 16th, 2012

As an economic crisis manager, Leszek Balcerowicz has few peers. When communism fell in Europe, he pioneered "shock therapy" to slay hyperinflation and build a free market.

Tuesday, October 23rd, 2012

Allison is nothing if not an expert on banking and finance, and having witnessed up close the 2008 financial crack-up that rendered so much of his competition insolvent, he’s written an essential book on the causes of a financial crisis that he unapologetically concludes was born by government error.

Thursday, September 27th, 2012
Archived from the live broadcast, this lecture by David Stockman was presented at the Mises Circle in Manhattan: "Central Banking, Deposit Insurance, and Economic Decline." Includes a welcome and introduction by Llewellyn H. Rockwell, Jr. Music by Kevin MacLeod.
Wednesday, June 27th, 2012

It is bad enough that opponents of the free market wrongly blame capitalism for environmental pollution, depressions, and wars. Whatever the failings of their causal theories, at least they are focused on undoubtedly bad things. We have really gone beyond the pale, though, when the market is blamed for something good.