Nobel-winning economist Joe Stiglitz believes that the path to freedom is . . . less freedom. Of course, he doesn’t package his advocacy of socialism as the diminishing of freedom but rather as expanding freedom by restraining economic freedom.
Political and academic elites have successfully convinced the public that they should fear private enterprise. However, people really should fear an out-of-control government.
Progressives claim that profits are an unjust transfer of wealth from the poor to the rich. In reality, entrepreneurs earn profits by directing resources from less valued to more valued uses to satisfy consumer needs.
Political and academic elites have successfully convinced the public that they should fear private enterprise. However, people really should fear an out-of-control government.
Ryan and Tho discuss the media campaign around Joseph Stiglitz's new book, The Road to Freedom.
Individual rights originated in Western thinking. Today, it is the West that produces the ruling class that disdains individual rights and replaces them with collectivism.
In publicly opposing apartheid, William H. Hutt saw how legal segregation kept black South Africans from pursuing legitimate economic goals. To Hutt, apartheid deprived people of equality of economic opportunity, which kept them in poverty.
In our current age of rampant monetary inflation and price inflation, good economics has become more relevant for ordinary people. Inflation is not some arcane matter of consumer price indices and statistics on the monetary base. Inflation, is simply ruinous on the personal level.
Progressives claim that profits are an unjust transfer of wealth from the poor to the rich. In reality, entrepreneurs earn profits by directing resources from less valued to more valued uses to satisfy consumer needs.
After the Indochina War, Vietnam was one of the poorest countries in the world, but dramatic free-market reforms have made this formerly socialist country prosperous.
