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Leonard E. Read, the founding and long-serving first president of the Foundation for Economic Education (FEE), once told a story about when he first met the famous Austrian economist Ludwig von Mises. It was in 1940, shortly after Mises had arrived in the United States from war-torn Europe. Read had invited Mises to Los Angeles to deliver a talk to the local Chamber of Commerce.
Later that evening, Read hosted a dinner party at his home with several prominent free-market-oriented economists and California businessmen. Toward the end of the conversations about collectivist trends in America, one of the guests asked Mises, “Now, let us suppose you were the dictator of these United States. What would you do?”
Read said, “Quick as a flash came the reply, ‘I would abdicate!’” Read went on to say that in his mind, Mises’s response was an instance of the wisdom of how little any one of us knows to presume to plan — “dictate” — ...
At the recent Summit of the Americas in Los Angeles, President Biden refused to permit Cuba, Venezuela, and Nicaragua to attend because they aren’t democracies. As everyone knows, for the past several decades, the U.S. government has made democracy its shibboleth. It’s as if democracy is something sacred.
Yet, what’s so great about democracy? It’s really nothing more than people selecting their rulers by votes rather than rulers selecting themselves. What’s so sacred about voters? U.S. officials promote the notion that voters select the best people to public office, as if they always elect saints.
Given that this is the 50th anniversary of the Watergate scandal, why not apply the democracy test to Richard Nixon, a president who was forced to leave office because of his criminal activity?
And then there was Lyndon Johnson, the president that Nixon succeeded. Many years after he had died, it was determined that LBJ ...
Earlier this year, Mississippi became the 37th state to legalize the medical use of marijuana, which is also legal in the U.S. territories of the District of Columbia, the Northern Mariana Islands, Guam, Puerto Rico, and the Virgin Islands. Since California became the first state to legalize medical marijuana in 1996, every couple of years, another state or two are added to the list (there were five in 2016). It is inevitable that the medical use of marijuana will eventually be legal in all 50 states.
The effectiveness of medical marijuana has been debated ever since the residents of California started the ball rolling by approving a ballot proposition to legalize it. Proponents of medical marijuana generally tout its effectiveness in treating nausea, loss of appetite, inflammation, chronic pain, seizures, spasms, depression, insomnia, and anxiety. Opponents of medical marijuana tend to downplay or deny altogether its effectiveness. Both sides regularly seize upon medical studies that support their respective positions.
According to ...
