Every American schoolchild learns about the value of the free marketplace. The thrust is that markets create optimal outcomes through a balance in the supply of goods and the demand for them. But there are some serious problems with this sunny view, like how the effects of today’s economic decisions may stretch over long spans […]

Read more

(Steve Ballmer) On Wall Street, they’re giving Microsoft CEO Steve Ballmer the bum’s rush. Ballmer has just announced he’ll soon retire. After his announcement, Microsoft’s shares shot up 7 percent. The wise guys on Wall Street obviously can’t wait to see Ballmer go. And neither can business pundits. Ballmer’s 13 years at Microsoft’s summit, they […]

Read more

The media today is full of stories about AIPAC and its decision to push for a “yes” vote on Syria to ensure that President Obama initiates the war it really wants, with Iran. Check out this Washington Post story. There is simply no way AIPAC and its camp followers would do this for Syria. Israel […]

Read more

(Ronald Coase) Property isn’t a vertical relationship between a person and an object, but instead is a horizontal, reciprocal relationship of exclusions between people. Since the benefit of one person in regard to property comes at the expense of someone else, there’s no logical or coherent way to invoke liberty or classical liberal principles of […]

Read more

(Reagan in Philadelphia, Miss. | Source: Jeff McAdory) It is amusing watching Republicans going ballistic over the success of the film. The Butler, which suggests that Ronald Reagan was a racist. They argue that there is no proof that Reagan was a racist, that in fact he loved black people. Reagan: to hell with civil […]

Read more