Topic: Free Markets

China Was More Dangerous When It Was Poor

– January 4, 2021

“In an economic sense, similarities between the U.S. and China are greater than some want to believe. Thank goodness they are. Unlike when China was poor, nowadays its people have a rooting interest in our success. And our people benefit from their success.” ~ John Tamny


Here’s Why We Tolerate Fake Check Scams

– January 2, 2021

“Solving the problem of job scam checks isn’t as easy as one might think. Changes to a tightly-wound system like the check system involve tradeoffs. You don’t get something for nothing.” ~ J.P. Koning


Ten Remarkable Financial Events of 2020

– January 1, 2021

“A year like 2020 educates another generation of traders and corporate managers, contributes to more robust market and exchange designs, and draws in innovators and risk-takers seeking to capitalize on the next crisis opportunity. Whatever 2021 has in store, it is unlikely to replicate financial market conditions witnessed throughout 2020.” ~ Peter C. Earle


Ronald Coase: A Birthday Appreciation

– December 29, 2020

“Like Adam Smith before him, Ronald Coase remains highly cited but still underrated. His ideas on transaction costs, rules, and organizations were influential, but as I wrote when he passed in 2013, ‘a few minutes with the ‘externalities’ section of almost any principles book, or a few seconds watching and listening to TV and radio discussions of environmental policy — suggests that it [“The Problem of Social Cost” specifically] is not influential enough.'” ~ Art Carden


Private Charity versus the Political Grinches

– December 23, 2020

“We should not forget the power of the private sector not only in the marketplace of profit-making supply and demand, but in the charitable good works and efforts of voluntary giving in the other institutions of a free civil society. Let us not forget that benevolent caring, sharing and gift-giving is what the spirit of Christmas is really all about, and most especially in a society of liberty.” ~ Richard M. Ebeling


Politicians are Crushing Christmas Miracles

– December 22, 2020

“Donald Trump should announce right here and now that he promises to pardon anyone who chooses to work and be open for business despite the decrees of the power hungry. What a way to leave the White House. What a legacy of freedom.” ~ John Tamny


The Return of the Trickle-Down Ruse

– December 16, 2020

“‘Trickle-down economics’ is neither an economic theory, policy, or outcome; better economic thought, not platitudes, are needed.” ~ Peter C. Earle


End the ABA’s Accreditation Power

– December 15, 2020

“Society writ large would benefit if the ABA lost the authority to accredit law schools. If only there were a politician willing to take the lead on this issue.” ~ Allen Mendenhall


Book Review: Whole Foods Founder John Mackey Shows That Leaders Lead Others By Serving Them First

– December 12, 2020

“John Mackey leads by finding ways to lift those in his employ who will run through walls for someone who will put them in a position to thrive. Conscious Leadership is an essential book for helping readers understand that leadership isn’t decreed as much as it’s a consequence of the would-be leader serving those around him.” ~ John Tamny


You’re Not Underpaid ‒ But LeBron Is

– December 5, 2020

“The value of your work isn’t what you say it is; it’s what others say it is, and more so what they’re willing to part with to get that. Even without the particular NBA rules LeBron couldn’t stand up and say his basketball skills are worth a trillion dollars a year. That’s for others to decide ‒ team owners, managers, and fans ‒ not him.” ~ Joakim Book


Dr. Friedman Goes to South Africa

– December 3, 2020

“Milton Friedman in South Africa is a fascinating product of one of Friedman’s ventures during a controversial time. It is worth reading for anyone interested in understanding Friedman specifically or what Andrei Shleifer called ‘The Age of Milton Friedman’ more generally.” ~ Art Carden


Don’t Confuse Free Markets with the Interventionist State

– December 2, 2020

“The important task for those who value personal freedom, economic liberty and the free market economy is to disabuse our fellow citizens from thinking that what we have is a fully capitalist system, and to appreciate that what critics of capitalism call for and want in the form of even more and bigger government would only magnify the corrosive trends already in play in the modern world.” ~ Richard M. Ebeling