As someone who tends to fall on the libertarian end of the political spectrum, I used to struggle with understanding the term “conservative” as a political category. I have noticed the term expresses a broad political ideology. This is generally understood to those that adhere to the principle of conservatism but not something readily available...
Imagine Ted wants to start his own company to, say, build and sell televisions. Ted rents the land and factory, hires workers, and acquires the capital goods and other inputs as necessary. Months later, he starts putting his televisions up for sale. To make a profit, of course, Ted needs to sell the sets at...
The undercounted cost of the COVID pandemic is in the lives lost to despair, addiction, suicide, and other illnesses. Whether people have voluntarily cut off ties, albeit after government officials suggested shutting down for two weeks in March to “flatten the curve,” or were forced to do it by their employer or a government mandate,...
One of the most common misconceptions about the free market is that it encourages people to pursue their own “narrow self-interest,” usually interpreted as caring only about one’s self while ignoring the needs and desires of others. But in fact, the truth is quite the opposite. In a market, the surest route to economic failure...
Recent weeks have witnessed renewed fervor to address financial market upheaval with new policies and unprecedented authority transferred from private markets and private entrepreneurs to policymakers, regulatory agencies, and the U.S. Congress. But fear of markets is not the answer. Sound economics and logical thinking are. Not least, it's time to reconsider the true nature and causes of the wealth of nations.
