Over the past several years, I’ve repeatedly argued that you get more unemployment when the government pays people to be unemployed. But I’m not just relying on theory. I’ve cited both anecdotes and empirical research to bolster my case. You won’t be…
Daily Analysis
America Should Export a Belief in the Free Market, Not Cronyism
Numerous arguments have been made here in opposition to re-authorization of the Export-Import bank. But perhaps the most fundamental is that America ought to lead by example when it comes to belief in the free market. We should not be exporting support for cronyism to…
The Amazing Hockey Stick of Economic Progress
Back in 2010, I shared a remarkable chart showing how quickly economic output doubles in a fast-growth economy, but it also showed how long it takes for GDP to expand if an economy only grows 1 percent or 2 percent per year. My main message was that nations should…
Be Thankful for Capitalism and Rich Entrepreneurs
In previous columns, I’ve explained why a wealth tax is a very bad idea. And I’ve also pontificated on why leftists are wrong to pursue policies of coerced equality. So it goes without saying that I’m a big fan of a new Wall Street Journal column by John…
Worried About Inequality? Then Focus on Helping the Poor, not Punishing the Rich
I haven’t spent much time writing about Thomas Piketty’s inequality book for the simple reason that my goal is economic liberty, not equality. That being said, I think that Piketty is fundamentally misguided even if the goal is helping the poor. Simply stated,…
Global Trends in Economic Freedom
I’m in Vancouver, Canada, for the biennial meeting of the World Taxpayers Associations. I gave a speech on why tax competition is a valuable force to constrain the greed of the political class, but warned the audience that high-tax governments and international…
Let Markets Work, even for Folks Who Want to Buy and Sell Human Organs
Back in 2011, I shared a video making the moral argument that adults should be allowed to buy and sell kidneys. After all, if one person is made better off by selling a kidney and another person is made better off by buying a kidney, why should the rest of us be…
Copy Sweden or Greece? Learning from the Global Economic Experiment
While theory is important, I suspect most people are more likely to be convinced by real-world evidence. This is why I frequently compare nations when arguing that free markets and small government are the best way of generating prosperity. Simply stated, I want…
Free Markets vs. Racism
Although I play basketball (poorly), I’m not a fan of the NBA. As such, I don’t pretend to have much interest in the Donald Sterling controversy. Some people have wondered whether his rights to free speech are being infringed, but I disagree. He obviously has the…
The Economics of Creative Destruction
In the battle of ideas, supporters of capitalism and economic liberty sometimes face an uphill climb because of a perception of heartlessness. When companies get in trouble, we’re the mean people who don’t want to give bailouts. When workers are laid off, we’re the…