Interventionism

Moral hazard is a vital concept for economics. We should be careful not to let critics trivialize or dismiss it; when they do, calls for government intervention and special privileges are seldom far behind.

Decades of government mismanagement has wreaked havoc on the Apalachicola oyster industry.

The pragmatist looks for areas where the economy and society fall short of the Garden of Eden, and these, of course, abound. Poverty, unemployment, old people with scurvy, young people with cavities — the list is indeed endless.

In his Newsweek column, Henry Hazlitt addresses inflation, deflation, and criticisms of capitalism by "democratic socialists." 

Democratic socialism in Britain in the late 1940s brought a wave of shortages with rations falling even below WWII standards.

Why is the aviation world all atwitter? Peter Klein explains what free market competition is and is not.

California is on the verge of increasing the statewide minimum wage to $15, from $10. According to one pro-minimum wage policy advisor, "It would mean a raise for one of every three workers in the state."

Those who advocate equality of income distribution overlook the most important point, namely, that the total available for distribution, the annual product of social labor, is not independent of the manner in which it is divided.

In this video, Ron Paul and Daniel McAdams discuss whether or not protectionism will improve the American economy.

Doing Bad by Doing Good is an accessible treatment of a major foreign-policy problem from a perspective solidly grounded in the tradition of Austrian economic thought.