Free Market

Liberty, Law and the Market Economy

by
The history of liberty and prosperity is inseparable from the practice of free enterprise and respect for the rule of law. Both are products of the spirit of classical liberalism. But a correct understanding of free enterprise, the rule of law, and liberalism (rightly understood) is greatly lacking in the world today. Historically, liberalism is the political philosophy of individual ... [click for more]

Free Trade for Christmas (Trees)

by
Whether it's for cheap steel or cheap tires, Americans are supposed to be afraid of trade with China because it provides us with products we want at low prices. But to the damage allegedly inflicted on our economy by those who would save us money, must we now add...artificial Christmas trees? According to a November 27 story ... [click for more]

An Audience with the Tyrant of Yemen

by
The former president of Yemen, Ali Abdullah Saleh, was reported killed in the capital of Sana’a, on December 4, 2017, when he seemingly was changing sides in the on-going and brutal civil war in that country. I actually met Ali Abdullah Saleh in December 2006, when I was president of the Foundation for Economic Education. I was part of a ... [click for more]

Capitalism and Asymmetric Information

by
Capitalism is a wondrous human institution for the mutual betterment for all in society. Yet, critics often insist that market systems enable sellers to take advantage of buyers, because those on the demand-side often lack the specialized knowledge that suppliers possess, thus, enabling a possible exaggerated misrepresentation of what is being offered for sale. What is missed is that ... [click for more]

Capitalism and the Misunderstanding of Monopoly

by
Numerous misunderstanding and mythologies surround the meaning of capitalism and competition, but few match the confusions over the meaning and relevance of “monopoly” in the workings of the market economy. When looked at dispassionately, factually, and historically, monopoly has almost always represented a problem in society only when created, protected or imposed by government intervention. Critics of capitalism have proposed ... [click for more]

Capitalism and Competition

by
Market competition is at the heart of the capitalist system. It serves as the driving force for creative innovation, the mechanism by which market supplies and demands are brought into coordinated balance for multitudes of goods, and an institutional setting for individuals to freely find their own place to best earn a living in society. Yet, listening to the critics ... [click for more]

Middlemen, Government, and the Free Market

by
There are multitudes of ways in which goods are exchanged on the free market. The most common way that most people purchase merchandise is by shopping at a general or specialty retail store: Walmart, Sears, Kroger, Home Depot, Office Depot, Target, Best Buy, Walgreens, and so on. But in addition to retail stores, goods are also sold through auctions, ... [click for more]
Page 1 of 712345...Last »