By Richard M. Ebeling Through most of the coronavirus crisis, those who have made the case for stay-at-home, reduce or stop work, and narrow the range of retail shopping to assure “social distancing” to reduce the spread of the virus have accused their critics of being more interested in preserving livelihoods than “saving lives.” But there is no preservation of any lives if … [Read more...] about There Will Be No Recovery Without Production
By Richard M. Ebeling The coronavirus crisis that has enveloped the world has brought about calls for society and economy-wide action on the part of governments that has been matched by the imposing of radical shutdowns and compulsory mass quarantining as tens of millions of people are told to not to go to work and to stay at home instead. Governments have also been … [Read more...] about What Comes After the Coronavirus, Freedom or Despotism?
By Richard M. Ebeling The world has rapidly moved into a seemingly aggressive paternalistic planning mode in the face of the Coronavirus crisis. Many voices are heard to say that personal and economic liberties must be restricted or even temporarily banned. At the same time, many of those same voices are saying that at a moment like this government spending, for all intents … [Read more...] about Leaving People Alone Is the Best Way to Beat the Coronavirus
By Richard M. Ebeling One of the great fallacies arrogantly believed in by those in political power is the notion that they can know enough to manage and command the lives of everyone in society with better results than if people are left to live their own lives as they freely choose. The fact is, there is far more in the world that successfully manages and “regulates” … [Read more...] about The Miracle of the Free Market
By Richard M. Ebeling Social and economic crises, real and imagined, often seem to bring out the most wrongheaded thinking in matters of government policy. Following the 2008 financial crisis and with the fear of “global warming,” there has been a revival in the case for “democratic” socialism. But now its proponents are “out of the closet” with a clear cut and explicit call … [Read more...] about The Case for a Coercive Green New Deal?
By Richard M. Ebeling It seems that every generation or two, fundamental economic ideas are questioned and challenged. The reasonable and important idea that governments should balance their budgets on an annual basis was challenged in the 1930s by the rise of Keynesian Economics and the counter-argument that deficit spending was desirable, if it was used to maintain full … [Read more...] about Debt, Deficits and the Cost of Free Lunches
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
By Richard M. Ebeling Like the carnival side shows at the circus, the candidates for the Democratic party nomination — do I even need to name the more than 20 of them? — are all standing in front of their respective campaign tents trying to attract the potential voter onlookers to join them inside, hope for that campaign contribution and support during the primaries so they … [Read more...] about The Presidential Political Circus Has Begun
By Richard M. Ebeling If you look at the results of relatively open and competitive market economies over the years, the decades, and especially the last two centuries, the only conclusion that can reasonably be reached is that free market liberal-oriented societies provide the conditions and opportunities for constant and continuous material and social betterment for the … [Read more...] about What 19th-Century Foreign Writers Said about American Freedom and Prosperity
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