Free Market

The Nebulous Crime of Ticket Scalping

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Although the Olympics in Rio de Janeiro, Brazil, are over, for some people associated with the games, things are just beginning. Athletes who won medals are now household names in their respective countries. Many were honored with parades. Some will receive lucrative endorsement deals. Others will appear in television commercials. And although U.S. athletes will have to pay [click for more]

The Free Market at Work

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Even with all the government licensing, regulation, and oversight that American businesses are burdened with, the United States still has a relatively free market compared with most other countries. This is especially true on the consumer side. One of the great weapons that consumers have is the boycott. Let’s look at some high-profile boycotts and then see what it is ... [click for more]

Free the Gas Pumps!

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Aside from both being coastal states, New Jersey and Oregon have little in common except for one infamous thing. Drivers vacationing or passing through either state for the first time who have to stop to gas up their cars are in for a rude awakening if they try to pump their own gas. They will quickly find out from ... [click for more]

Free Markets and Human Freedom

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There the market is freest, human liberty is highest. If labor is controlled (e.g., slavery), there is neither a free market nor freedom. If capital is controlled (e.g., government ownership), you can’t produce without permission; that’s not freedom. The free-market economy and human freedom are mutually dependent; destroy one, and the other automatically falls…. Governments control people (you and me) ... [click for more]

The Free Market versus the Bureaucratic State

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The U.S. presidential election of 2016 may still be well over a year away, but those who dream of sitting at the desk in the Oval Office of the White House in Washington, D.C. are busy scrambling for campaign supporters, financial contributions, and potential voters in the party primaries that will influence who will run in the general election. As ... [click for more]

Business Is No Business of the State

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Uncle Sam Can’t Count: A History of Failed Government Investments from Beaver Pelts to Green Energy by Burton W. Folsom Jr. and Anita Folsom (Broadside Books, 2014), 239 pages. The day after the 2010 mid-term elections, the federal government quietly announced the bankruptcy of Solyndra, a “green energy” company that had been touted by Barack Obama as a ... [click for more]

The Case for Economic Freedom

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I shall identify my brand of economics as that of economic freedom, and I shall define economic freedom as that set of economic arrangements that would exist in a society in which the government’s only function would be to prevent one man from using force or fraud against another — including within this, of course, the task of national ... [click for more]

Innovation, Patents, and the Industrial Revolution

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The Most Powerful Idea in the World: The Story of Steam, Industry and Invention by William Rosen (University of Chicago Press 2012), 376 pages. This is the story of an important microcosm of the Industrial Revolution: the development of the railroad. Although the story is one of personalities — and the book is engaging and a good read ... [click for more]

How Technology Can Create Political Change

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Bit by Bit: How P2P Is Freeing the World by Jeffrey Tucker (Liberty.me 2015), Kindle, 130 pages (estimated). Jeffrey Tucker opens with the story of Fereshteh Forough, who set up a chain of clinics in Afghanistan to empower women by teaching them coding, design, and other computer skills that they could market directly on the web. The problem they ... [click for more]

Americans See Big Corruption in Big Business

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A recently released report on the degree of confidence that Americans have in the country’s leading political and economic institutions showed that few of these institutions are held in high regard by the public. The survey was conducted by NORC, a respected research organization at the University of Chicago. It was found that only 11 percent of those asked expressed ... [click for more]
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