“NAFTA Fever” and the Myth of Government-Created Free Markets
Critics of free markets claim that the 1980s and 90s were near-pure laissez-faire when, in reality, the regulatory state only got stronger.
Cronyism and Corporatism
Displaying 1 - 10 of 565
“Personnel Is Policy” Means the Rule of Law Is Dying
Those carrying out government directives are even less bound by law than they were a few years ago, and talk about new bureaucrats is beginning to resemble the Kremlinology of the Cold War.
Trump’s Economic Policies: The Good, The Bad, and the Uncertain
President-elect Trump has promised changes in economic policies. How well they work and how they will affect us remains to be seen. Here is a look at proposals that have promise—and proposals that are likely to cause harm.
Slavery—Cronyism, Opportunity Cost, & Deadweight Loss
A modern misconception of antebellum slavery is that it “built the country.” Actually, the institution of slavery, economically speaking, was a deadweight loss to the US economy.
How the Government Created Exorbitant Insulin Prices
Progressives blame the free market for insulin prices and want to impose price controls. But, government regulation is to blame.
Contrived Scarcity and Antitrust Lawsuits—“It’s Not a Bag, It’s a Birkin”
Birkin bags are pricey and the producer restricts its potential buyers. Unfortunately, disgruntled customers who don’t want to follow the company’s rules are now appealing to US antitrust law.
The Limits to Public Opinion and the Failure of Democracy
The watchword among progressives this election season is: “Nothing less than our democracy is at stake.” In truth, democracy itself is not in danger, but one can accurately say that “democracy,” as practiced in the US, endangers our lives.
Some Depositors Are More Equal than Others
Like Orwell‘s famous statement from Animal Farm, “All animals are equal, but some animals are more equal than others,” it turns out that bank bailouts are not as equal as the state would like us to believe. Unsurprisingly, benefits accrue to the banks with the biggest depositors.
Lessons from Reconstruction
Using state power to enforce social orthodoxy is always a recipe for disaster. Radical Republican governments in the post-war South attempted to do just that, sowing seeds of hatred and discord in the process.
Distress in Commercial Real Estate Bonds Hits All-Time High
Commercial real estate in the US faces major problems despite efforts by the Federal Reserve System to prop it up. Bonds used to finance commercial real estate markets are being hit especially hard, and there is no relief in sight.
