"The entire history of the human race, the rise of man from the caves, has been marked by transfers of cultural advances from one group to another and from one civilization to another." So said economist, social philosopher, and historian Thomas Sowell in a 1990...
Economics
TGIF: No Cheers for Decolonization(R)
by Sheldon Richman | Jun 28, 2024 | Economics, Foreign Policy, History, Justice, Libertarianism, Politics, Sheldon Richman, TGIF
How can a libertarian oppose decolonization? Colonization not only oppressed conquered peoples, as the staunchest early classical liberals never tired of pointing out, but also burdened the taxpayers of the home country, who were forced to pay through the nose for...
TGIF: What Free Market in Health Care?
by Sheldon Richman | Jun 21, 2024 | Economics, Featured Articles, Politics, Sheldon Richman, TGIF
Contrary to a popular article of faith, America has no free market in health care—far from it. Consider this: the largest lobby in Washington, D.C., is—wait for it—the health care and health insurance industries. Last year, they spent 5.8 times the amount the...
‘Savings Are Bad’ and Other Keynesian Errors
by Joseph Solis-Mullen | Jun 18, 2024 | Economics, Featured Articles
While it is difficult to choose among them, arguably the most pernicious part of John Maynard Keynes' legacy is his misunderstanding of what savings and interest rates are, and how they related to the rest of the economy. These mistakes were passed on to his followers...
TGIF: “We Have Met the Enemy and He Is Us”
by Sheldon Richman | Jun 14, 2024 | Economics, Featured Articles, Justice, Libertarianism, Politics, Sheldon Richman, TGIF
The famous line "We have met the enemy and he is us" is from Walt Kelly's comic strip, Pogo. Kelly adapted the line from a U.S. naval commandant who, during the War of 1812 against Great Britain, reported to his superior, “We have met the enemy and they are ours.”...
On Wealth Inequality, the Left Has a Point
by Thomas Eddlem | Jun 12, 2024 | Economics, Featured Articles
The federal government has been waging a war against the middle class and working poor since at least 1970. Wealth inequality has steadily increased since the early 1970s, and it’s not a coincidence. It’s a result of a series of policies. The government wants the...
DOJ, Lay Off Live Nation!
by Joseph Solis-Mullen | Jun 11, 2024 | Economics, Featured Articles
Last month, the U.S. Department of Justice (DOJ) finally came out with their long anticipated antitrust lawsuit against Live Nation Entertainment. Alleging anti-competitive practices which “suffocates its competition,” everyone’s least favorite Attorney General (since...
Why Libertarians Loathe Tariffs
by Laurence Vance | Jun 11, 2024 | Economics, Featured Articles
Former president and current Republican presidential candidate Donald Trump loves tariffs. In his 2011 book Time to Get Tough: Making America #1 Again, Trump included as part of his five-part tax policy “a 20 percent tax for importing goods.” During his first campaign...