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
Government
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
Stateless in the Walled City of Kowloon
By Peter C. Earle Twenty-five years ago, the most successful 20th-century experiment in liberty — begun inadvertently, as always — came to an end. In April 1994, demolition of the taxless, unregulated, autonomous capitalist enclave known as the Walled City of Kowloon was completed, ending nine decades of an unparalleled experiment in utter statelessness. Similar to the … [Read more...] about Stateless in the Walled City of Kowloon
Here’s a Lesson From the 108,000 Millionaires Who Left Their Home Countries Last Year
By Simon Black, Sovereign Man According to a recent report from Bloomberg, more than 108,000 millionaires left their home countries last year in search of greener pastures. Most emigrated from countries like China and Russia… no surprise there. India also saw a large outflow of millionaires as tax authorities tightened their grip. And Turkey continues to see an exodus, … [Read more...] about Here’s a Lesson From the 108,000 Millionaires Who Left Their Home Countries Last Year
The Stone Cold Conservative Socialist
By Jon Rappoport “Is he a meth gooney bird? He seems to be flopping around the stage like a creature who’s lost his wings. He’s talking about VALUES, but it’s clear he’s lost those, too. Something happened to his brain somewhere along the line. Something bad. Maybe it all came from too much preaching. Talking super-simple to simpletons could cause contraction and shrinkage … [Read more...] about The Stone Cold Conservative Socialist
What if Government Suddenly Disappeared?
By Peter C. Earle If the strange and little-known case of the condominium of Moresnet — a wedge of disputed territory in Northwestern Europe, and arguably Europe's counterpart to America's so-called Wild West — acts as our guide, we must conclude that there is an inverse relationship between the size and scope of government and the potential for both peace and … [Read more...] about What if Government Suddenly Disappeared?
In Praise of an Ideology of Freedom
By Daniel J. Boudreaux In a recent EconLog blog post, Alberto Mingardi justly praised Tyler Cowen’s latest book, Big Business. In that post, Mingardi favorably quotes, directly from Cowen’s volume, this passage: “So many of the problems with business are in fact problems with us, and they reflect the underlying and fairly universal imperfections of human nature. Yet we … [Read more...] about In Praise of an Ideology of Freedom
No One Is Coming to Rescue You—Especially Not a Presidential Candidate
By Brittany Hunter We are only a few months into 2019, and already the 2020 presidential election season is well underway. Each week, it seems that more candidates are entering the race, especially in the Democratic field. And as the country cycles through its political flavors of the week, social media has become overrun by passionate posts that read more like stump … [Read more...] about No One Is Coming to Rescue You—Especially Not a Presidential Candidate
A Horrible Future Awaits for Anyone who Depends on Government
By Joe Jarvis Lice, cockroaches, and root canals all have better approval ratings than Congress. Congress controls government spending. And nine out of every ten people say the government doesn’t spend tax dollars wisely. 57% say tax rates are too high. (But only 13% want to cut right to the heart of the issue and abolish the IRS.) And whatever side of the aisle … [Read more...] about A Horrible Future Awaits for Anyone who Depends on Government
Central Banking Is Central Planning
By Richard M. Ebeling At a time when the appeal of and demands for a new “democratic” socialism seem to have caught the imagination of many among the young and are reflected in the promises of a good number of political candidates running for high office, there is one already-existing socialist institution in America with few opponents: the Federal Reserve System. The … [Read more...] about Central Banking Is Central Planning