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The Free Market 19, no. 8 (August 2001)   One thing that has achieved Holy Writ with economists and politicians is the Consumer Price Index, or the CPI. Each month, people from Alan Greenspan to traders at the New York Stock Exchange to the economist in the Economics 101 prison await the latest announcement from the US Department of Labor that

The Free Market 19, no. 10 (October 2001)   Everyone complains about bad service. From the airlines to telecommunications, we hear of the increasing number of consumer complaints. Diane Brady, a writer for Business Week , believes that she has the answer to why some of us might believe service is bad. Last year, she informed BW ‘s readers that,

The Free Market 19, no. 12 (December 2001)   In the weeks following the terror attacks, calls have come from politicians and journalists to “federalize” airport security by making workers who screen passengers and baggage government employees. House Minority Leader Richard Gephardt and others in Congress have declared that “passengers won’t feel

The Free Market 20, no. 2 (February 2002)   Economists are fond of writing open letters to politicians in attempts to lead them down “proper” policy paths. In 1930, a thousand economists signed an open letter to President Herbert Hoover asking him not to sign the infamous Smoot-Hawley Tariff. Hoover signed it anyway, creating one more disastrous

The Free Market 20, no. 6 (June 2002)   As oil and gasoline prices begin their annual rite of spring, I am waiting for another rite that occurs among media pundits and some economists—who ought to know better. That particular ritual is the accusation levied against oil companies that they are “manipulating the market” in order to force up prices.

The Free Market 20, no. 9 (September 2002)   Whether to distract the American public from the current set of hearings into the national security breakdowns that led to the September 11 attacks or just to be doing something, President George W. Bush has announced plans to create a new Cabinet-level monstrosity ostensibly aimed at making all of us

Abstract: Economists have tried to explain business cycles as well as fluctuations in the economy, but over the past two centuries, the explanations have fallen into two areas. The first area tries to explain business cycles as being the result of fluctuating aggregate demand ; if overall demand for goods is strong (or to put it another way,

Volume 22, Number 3 (Fall 2002) William L. Anderson, Christoper Westley, and Gregory Dempster are interviewed about their experiences and study of the Austrian School.

Damon Linker, the writer who believes that the State is the Measure of All Things Great, has declared that the concept of what F.A. Hayek called the “spontaneous order,” is a “ terrible, horrible, no good, very bad idea .” This is how Linker describes the concept: Simply stated, the idea holds that when groups of individuals are left alone,

Just when the current “discussion” on economics by public intellectuals like Paul Krugman hits bottom, Business Week decides to dig the hole even deeper by lionizing John Maynard Keynes. Keynes, according to BW, had the theories that can “fix” the currently moribund world economy. There is a doctor in the house, and his prescriptions are more