Topic: Free Markets

Milton Friedman Was More Like F.A. Hayek Than He Likely Knew

– February 22, 2024

“While both men won the Nobel Prize in economics – Hayek in 1974 and Friedman in 1976 – economists regard the scholarly work of Hayek as differing almost categorically from that of Friedman.” ~Donald J. Boudreaux


Coats, Pencils, and Division of Knowledge

– February 19, 2024

“‘Wonder’ is not too strong a word to describe a social process that allows us to get so much bread and so much clothing for so little sweat of our brows.” ~Art Carden


Markets and the Montgomery Bus Boycott

– January 18, 2024

“The immutable laws of markets enabled Montgomery’s black community to use the withholding of bus fares through the organized boycott to effectively turn the city bus company into an ally for legal reform.” ~Blake Ball


Review: Milton Friedman: The Last Conservative

– January 11, 2024

“Friedman wasn’t a contrarian, but a firm believer in following the facts wherever they led. This ‘positive economics’ approach would underpin his later contributions for which he was most known.” ~Michael N. Peterson


The Cheap Populism of Bashing CEO Pay

– January 8, 2024

“The time needed to accumulate skills and experience is considerable and few people want to have the downsides of being a CEO. Demand for such skill is increasing faster than supply, which results in growing CEO pay. It’s basic economics.” ~Vincent Geloso


Capitalism Is Impersonal, Not Soulless

– January 4, 2024

“Because in today’s global economy the people with whom we interact economically number literally in the billions, the percentage of these persons with whom we also interact personally is near zero.” ~Donald J. Boudreaux


Let People Reimagine Housing to Make It More Affordable

– January 2, 2024

“People might be willing to live without their own kitchens and bathrooms if it means a cheaper place to sleep. Regulation’s underlying philosophy is that I know better than you how you should live and what tradeoffs you should make.” ~Art Carden


Fake Meat: More Entrée or Agenda?  

– December 5, 2023

“The plant-based alternatives industry appears to be facing its first true market test and doing poorly. It is a much smaller market than producers perceived, due to the noisy signals and political distortions of Conspicuous Production.” ~Phillip W. Magness and Peter C. Earle


The Miracles of Human Cooperation Are Hidden in Plain Sight

– November 27, 2023

“Humans cooperate and communicate in miraculous ways through the mechanism of the price system. If you believe someone must be in charge of coordinating human action, you will never notice the marvels all around you.” ~Barry Brownstein


Underdog States Improve Their Business Tax Climate

– November 14, 2023

” As they continue to reduce tax burdens, they create environments where individuals and businesses can retain more of their earnings, which invites innovation, improves the quality of life, and encourages moving to those states.” ~Vance Ginn


Does Everybody Gain?

– November 13, 2023

“Large gains are enabled by protecting individuals’ rights to cooperate with anyone on whatever terms they would find acceptable, combined with others’ rights to say no to whatever offers they find unacceptable.” ~Gary M. Galles


FTC Suit Against US Anesthesia Partners Highlights How Anticompetitive US Health Care Is 

– November 10, 2023

“The complaint — which makes for surprisingly good reading — also makes clear the wide variety of existing practices that make the healthcare industry so anti-competitive.” ~Angela Dills