Op-Ed by John Klyczek Democratic presidential candidates, such as Elizabeth Warren, have pledged to fix the American education system by replacing privatized charter schools with “community schools” that incorporate “socioemotional-learning (SEL)” programs. These “Democratic” community schools, which teach “social skills” and “emotional competencies,” might sound like … [Read more...] about Community Schools Are Not the Antidote to Charter Schools
Three Bad Arguments for the Minimum Wage
By Gor Mkrtchian The case for market wages is simple. If employers and employees voluntarily agree to a certain wage, then that exchange will necessarily be mutually beneficial, otherwise it wouldn’t have happened. Creating a minimum wage will simply disemploy the lowest-skilled among us, whose productivity is below the legal minimum wage. Why would a business hire a worker … [Read more...] about Three Bad Arguments for the Minimum Wage
Is the Customer Always Right? No, but…
By Dan Sanchez It's easy to scoff at the old saying, "the customer is always right." As anyone who has worked retail knows from experience, the customer can be magnificently wrong, as well as ignorant, unreasonable, rude, even abusive. So the saying shouldn't be taken literally, but that doesn't mean it has no value. Sayings are often intentionally exaggerated in order to … [Read more...] about Is the Customer Always Right? No, but…
There Is No Such Thing as “The People”
By Donald J. Boudreaux Among the most important advances in the social sciences of the 20th century is Kenneth Arrow’s Impossibility Theorem. The full explanation of this theorem first appeared in Arrow’s 1951 book, Social Choice and Individual Values. As explanations go, this one is especially beautiful in its rigor, yet highly technical and inaccessible to the general … [Read more...] about There Is No Such Thing as “The People”
The Prospects for Prosperity in the New Year
By Bruce Yandle 2020 is here, so let us consider the political-economic landscape and the long-run outlook. Are expectations high? Low? Both? Let’s take a look. In a year-end assessment, Wall Street Journal columnist Gerald F. Seib put his finger on what looks like a major puzzle. The matter has to do with a Wall Street Journal-NBC News poll that revealed unusually … [Read more...] about The Prospects for Prosperity in the New Year
Top Ten Economic Trends This Year and Next
By Jeffrey A. Tucker It’s been a remarkable year in economics. Here are my personal picks for the top ten economic trends of this year and next. 1. The Chinese model of political economy is under pressure. Two years ago, there was a growing consensus that China had it right: free enterprise with totalitarian political control. Matters of changed. The protests in Hong … [Read more...] about Top Ten Economic Trends This Year and Next
The Year in Bad Ideas
By Max Gulker At first glance 2019 was a rough year for anyone in favor of an economy and society guided from the bottom up by people with the freedom to exchange, cooperate, and think as they choose. The highly visible left flank of the Democratic Party, fully embracing socialism in name and approach, erupted with proposals that would drastically change the country in ways … [Read more...] about The Year in Bad Ideas
Unsung Heroes: Private Food Inspectors
By Robert E. Wright It’s my 51st and I am happy to say that I have not died, even once, of food poisoning or other food-related illnesses. I can safely assert the same of anyone reading this, despite recent government shutdowns that disrupted food safety inspections. Many people believe we need government inspectors to keep the food supply safe, but they are full of it, and … [Read more...] about Unsung Heroes: Private Food Inspectors
6 Reasons for Optimism in 2020
By Tyler Brandt “The 2010s have been the best decade ever. The evidence is overwhelming.” Those are the words of Cato Institute senior fellow Johan Norberg, penned in an op-ed for the Wall Street Journal. Norberg’s words seem hyperbolic at first glance, but he may be right. In many ways, the world is getting better every day, and at an explosive rate. This is contrary … [Read more...] about 6 Reasons for Optimism in 2020
Healthcare and “Market Failure”
By Marc Fouradoulas In the face of illness and suffering, private markets for healthcare services allegedly fail. Since the 1960s, neoclassical economists have legitimized the regulation and collectivization of this sector under the term "market failure." This assumption forms the foundation of the discipline of health economics and its attempt to replace the failed market … [Read more...] about Healthcare and “Market Failure”
The Wealth Redistribution Scam That Is “Inflation”
By Thorsten Polleit The world over people are told that central banks pursue “price stability” by making sure that consumer goods prices do not rise by more than 2 percent per annum. This is, of course, a big sham. If the prices of goods rise over time, it does not take that much to understand that prices do not remain stable. And if the prices of goods increase over time, … [Read more...] about The Wealth Redistribution Scam That Is “Inflation”
How Today’s Central Bankers Threaten Civilization
By Claudio Grass When I was asked to write an article about the impact of negative interest rates and negative yielding bonds, I thought it was a chance to look at the topic from a broader perspective. There have been lots of articles speculating about the possible implications and focusing on their impact in the short run, but it’s not very often that an analysis looks a … [Read more...] about How Today’s Central Bankers Threaten Civilization