For those of a certain age, this Disney video will be familiar. https://www.youtube.com/watch?v=wM1DgihKHVI. Please give it a watch. For an individual, household, city, or sovereign nation, it really is not much more complicated than this. With so much practical good...
Economics
Economic Democracy
Any method of allocating resources other than the free market price system ultimately leads to tyranny. Yet the Occupy Wall Street Non-Leaders, presumably opposed to tyranny, have said many times that they want a “democratic economy”. There simply is no such thing....
Size Matters
I believe that many of our worst and very real problems are caused by the size of government, some businesses and some unions—they are all too big. Economies of Scale make sense, to a point. But Too Big to Fail, or close to it, makes no sense. Because then the...
Tinkering With Business
When I was a graduate student in London right after the earth cooled, 1968-1970, Harold Wilson was the Prime Minister, and Keynesian Economics ruled his Labor Party from Cambridge. At London School of Economics the teaching was more ChicagoSchool, so our professors...
I’ve Read Good Essays, but This May Be the Bastiat
Thanks to a personal introduction from Gene Tullio (https://facebook.com/gtullio1), I’ve discovered the French economic philosopher Frederic Bastiat and his great work, The Law, originally published in 1850. As with my late-in-life reading of F. A. Hayek, I am...
Perfection or Freedom?
It’s amazing how important worldview can be. Take the secular vs. the Judeo-Christian view of bad behavior and unfairly advancing self, family or friends. The secular worldview, if it were honest, would not criticize such selfish behavior, because if we are just...
How is the U.S. to be a Christian Nation?
As noted in previous posts, there are several facets to the U.S. being a Christian nation, and here I want to focus on how the U.S. should be Christian nation. I ask the question: at the beginning of the twenty-first century, how should we live? The same way as the...
How Public Policy Can Affect Almost Everything
For those of you who have studied F. A. Hayek for years, my recent epiphany (see earlier post) must seem almost laughable. Like a music historian who, after forty years in the field, suddenly discovers Tchaikovsky. Though written almost seventy years ago, The Road to...
Advice to current Economic Policy Makers: Take a Hayek
Where has F.A. Hayek been all my life? Thanks to our sons, I'm reading The Road to Serfdom, written by Hayek when he was at the LSE in 1944. Hundreds of thousands of copies have been read since then, but even though I was an Econ major in 1968, somehow I missed his...
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