Free Markets

Kevin Vallier's new book is a valuable contribution to "public reason liberalism," introducing useful arguments for strengthening private property rights.

Many people want the state to take the lead in revitalizing run-down towns. How does this make sense, when it is private industry that conceived these towns in the first place?

The question that arises for the state ruler is: How can I free myself of two effective constraints on my power: tax-resistance in the form of falling tax revenue and the need to borrow from and pay interest to banks? 

In the case of both athlete and teacher, the rarity of the skill and the number of people who benefit from the individual determines how much they're paid. 

Many people want the state to take the lead in revitalizing run-down towns. How does this make sense, when it is private industry that conceived these towns in the first place?

Capital goods become available thanks to secure private property rights, and a class of people willing to save and invest. Without this, there can be no great progress in the standard of living. But, it all takes time. 

It appears in the absence of formal government, that the Western frontier was not as wild as legend would have us believe.

We should be quite skeptical when states impose the opinion of minority groups on the majority through special programs in schools and elsewhere. Such programs likely involve “positive discrimination” against particular groups, consistent with state objectives.

It's the economic science people need to listen to.

The only relevant thing is that indirect exchange and money exist because the conditions for their existence were and are present.