By Sarah Skwire Ludwig von Mises’s essay “Economic Calculation in the Socialist Commonwealth,” references Aristophanes’ play The Birds and the medieval fantasy of the idyllic and work-free Land of Cockaigne when Mises notes of socialist planners that, Economics as such figures all too sparsely in the glamorous pictures painted by the Utopians. They invariably explain how, … [Read more...] about Aristophanes, Central Planning, and the Enduring Appeal of Utopian Fantasies
Counter Markets – Trends & Strategies for Maximum Freedom
The Hidden Costs of a $15 Per Hour Minimum Wage
By Art Carden It seems everyone wants to raise the minimum wage. On May 20, 2019, PBS reported that pretty much everyone seeking the Democratic presidential nomination wants to raise the federal minimum wage to $15 per hour. President Trump advocated a higher minimum wage during his 2016 campaign. The private sector has gotten into it as well, with Walmart CEO Doug McMillon … [Read more...] about The Hidden Costs of a $15 Per Hour Minimum Wage
Outlawing Jobs: The Minimum Wage
By Murray M. Rothbard [This piece originally appeared in the December 1988 issue of The Free Market and is also included in the collection Making Economic Sense.] There is no clearer demonstration of the essential identity of the two political parties than their position on the minimum wage. The Democrats proposed to raise the legal minimum wage from $3.35 an hour, to … [Read more...] about Outlawing Jobs: The Minimum Wage
Decentralize the Drug War — On the Way to Abolishing It
By José Niño On May 17, 2019, the City of Denver decriminalized the use and possession of psilocybin mushrooms via referendum. Nevertheless, the vote was a nail-biter as the initiative was only passed by a tight margin of 50.5 percent to 49.5 percent. However, Denver was not alone in drug reform developments. Certain counties in Texas are now implementing laxer … [Read more...] about Decentralize the Drug War — On the Way to Abolishing It
S.B. Fuller: The Forgotten History of a Legendary Black American Entrepreneur
By Brian Miller In the days before President Lyndon Baines Johnson, black Republicans were a thing. And chief among them was Samuel B. Fuller. Fuller was a black American entrepreneur in the mid-Century United States. More than just an entrepreneur, he also gave back to the black community by providing both inspirational speeches as well as nuts-and-bolts training at a time … [Read more...] about S.B. Fuller: The Forgotten History of a Legendary Black American Entrepreneur