Free Markets
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The Airline Guide to Subjective Value
A full refund may balance an airline’s books, but it doesn’t make a stranded passenger whole. The difference illustrates one of economics’ most important insights: value is subjective.
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America Can’t Revive Manufacturing by Shunning Robots
America won’t outcompete China by restricting imports on robots. It will win by becoming the best place in the world to build and deploy them.
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Don’t Let Washington Pick the Next Apple
BlackBerry’s collapse shows why consumers, not Washington, should decide which AI company wins the next technological revolution.
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What Slaughtered Pigs Can Teach Us About Europe’s Wine Policy
There’s a senselessness to Europe’s attempt to manage wine supply and dictate prices that echoes the New Deal’s effort to alleviate poverty by destroying millions of pigs.
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When ‘Consumer Protection’ Protects Producers from Competition
Claims to “protect consumers” often shield established industries from competition. The century-old battle over the definition of “whiskey” shows how.
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What’s Worse — Authoritarian Capitalism or Democratic Socialism?
Dictatorship is always a tragedy. But history suggests that a tyrant who allows markets does far less damage than one who abolishes them.
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Can a Freely Given Coconut Begin Civilization?
Trust precedes trade. Our natural empathy, our desire to see others do well, cultivates social order and generates the wealth of nations.
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Free Trade: The Consensus Is Growing
What economists have argued for generations is now reflected in public opinion: Americans see free trade as the better alternative to protectionism.
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A Libertarian Case for Regulating Sports Betting
Prohibition won’t stop gambling’s social harms. But regulations aimed at transparency could protect individual rights to informed contract, while limiting predatory platforms.
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Immigrants Build America’s Most Valuable Companies
Visa holders founded half of today’s Fortune 500 companies and a majority of billion-dollar startups. Current restrictions damage that competitive advantage and choke off future growth.
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•
The Airline Guide to Subjective Value
A full refund may balance an airline’s books, but it doesn’t make a stranded passenger whole. The difference illustrates one of economics’ most important insights: value is subjective.
-
•
America Can’t Revive Manufacturing by Shunning Robots
America won’t outcompete China by restricting imports on robots. It will win by becoming the best place in the world to build and deploy them.
-
•
Don’t Let Washington Pick the Next Apple
BlackBerry’s collapse shows why consumers, not Washington, should decide which AI company wins the next technological revolution.
-
•
What Slaughtered Pigs Can Teach Us About Europe’s Wine Policy
There’s a senselessness to Europe’s attempt to manage wine supply and dictate prices that echoes the New Deal’s effort to alleviate poverty by destroying millions of pigs.
-
•
When ‘Consumer Protection’ Protects Producers from Competition
Claims to “protect consumers” often shield established industries from competition. The century-old battle over the definition of “whiskey” shows how.
-
•
What’s Worse — Authoritarian Capitalism or Democratic Socialism?
Dictatorship is always a tragedy. But history suggests that a tyrant who allows markets does far less damage than one who abolishes them.
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•
Can a Freely Given Coconut Begin Civilization?
Trust precedes trade. Our natural empathy, our desire to see others do well, cultivates social order and generates the wealth of nations.
-
•
Free Trade: The Consensus Is Growing
What economists have argued for generations is now reflected in public opinion: Americans see free trade as the better alternative to protectionism.
-
•
A Libertarian Case for Regulating Sports Betting
Prohibition won’t stop gambling’s social harms. But regulations aimed at transparency could protect individual rights to informed contract, while limiting predatory platforms.
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•
Immigrants Build America’s Most Valuable Companies
Visa holders founded half of today’s Fortune 500 companies and a majority of billion-dollar startups. Current restrictions damage that competitive advantage and choke off future growth.