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
Government
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
The Plague of Meddling Political Busybodies
By Richard M. Ebeling Who knows what might be better or best for you? You or those in the government? We all make mistakes and misjudgments, but who is most likely to have a wider and deeper appreciation of your wants and desires, you or a bureaucrat in an often-faraway government agency? Who is more likely to have an insight into the options and opportunities for achieving … [Read more...] about The Plague of Meddling Political Busybodies
How Top-Down Government Fails America’s Poor
By Max Gulker A well-functioning society should provide a safety net for its members struggling the most. The unavoidable role of luck in market outcomes, the variability of circumstances in which people are born, and the imperative simply to alleviate suffering all speak to this need. Our debate about safety nets and responses to poverty hinges on a fundamental fallacy — … [Read more...] about How Top-Down Government Fails America’s Poor
As the U.S. Government Grows, American Prosperity Slows
By Richard M. Salsman Myopic accounts of American economic performance are common today, permitting political partisans to cite whatever period they wish to prove any case they want. Republicans today insist that President Trump’s policies have revitalized U.S. economic growth after years of supposed stagnation under President Obama, while Democrats say Obama’s policies … [Read more...] about As the U.S. Government Grows, American Prosperity Slows