I’m writing this column on the night before the presidential election of 2012. Surely the attention of readers will be on the election tomorrow—and probably for some time thereafter. I’m praying for an early and decisive ending of this grotesque demonstration of avarice, deception, and manipulation of fears. In the weeks prior to the election, […]
Read MoreBozeman, Montana was the birthplace of The New Resource Economics, aka “Free Market Environmentalism.” Having lived in its midst for decades, I recently began thinking of the historical context of this movement, and the causes of its unlikely success. The take-home message is clear; over the long run ideas have consequences. A victory implies contesting […]
Read More
“It is a paradoxical truth that tax rates are too high today, and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the tax rates…. [A]n economy constrained by high tax rates will never produce enough revenue to balance the budget, just as […]
Read MoreAt a conference at the Vatican I attended some years ago, Nobel laureate Gary Becker gave the opening speech. I found what he said quite remarkable: The greatest beneficiaries of capitalism are those at the bottom of the income ladder. That’s why I favor capitalism. Were that not the case, I would not be in […]
Read More
I saw Dave in my medical office last week. He is a pretty typical 46 year old American. He was laid off and now makes a little money with odd jobs. He has no health insurance and doesn’t qualify for the various government health programs. Also typically, he has high blood pressure, high cholesterol and […]
Read More
Because it’s the only system that maximizes growth and personal freedom.
Read More
Everybody is for ‘fiscal responsibility’; nobody is against it. Shouldn’t that be a red flag? Isn’t that a hint that something might be amiss in this so-called debate?
Read More
Prohibition and legalization aren’t our only choices when it comes to drugs. Proven programs can greatly reduce the harm caused by hard-core users—and reduce our prison population, too.
Read More
I often told my students that Hayek’s “The Use of Knowledge in Society” published in the American Economic Review in 1945 remains the most insightful economic article ever published. I read it once a year and always learn. Anyone who understands it well knows more about the economy and society than does the average Ph.D. […]
Read More
In Priceless: Curing the Healthcare Crisis, Dr. John Goodman takes the Affordable Care Act to task, rejects the Obama Administration’s vision, and offers a no-nonsense approach to health care reform. Arguing that the United States should create a market for sick people, in which health plans vigorously compete to solve the problems of diabetics, asthmatics, […]
Read More