by Dan Mitchell | Nov 6, 2019 | Blogs, Economics, Free Market
Last month, I criticized the New York Times for a very inaccurate attack against Chile’s successful pro-market reforms. The paper’s editorial asserted that only the rich have gained, a view that is utterly nonsensical and inaccurate. Indeed, I visited Chile about a...
by Dan Mitchell | Nov 5, 2019 | Big Government, Blogs, Economics, Free Market
Many libertarians support capitalism because of ethics and morality. Simply stated, they want an economic system based on voluntary exchange compared to statist alternatives (socialism, fascism, communism, etc) that rely on government coercion. I also like the...
by Dan Mitchell | Oct 29, 2019 | Blogs, Economics, Free Market
In early September, I wrote about how capital and labor are both necessary to create prosperity. Economists sometimes explain this with lots of jargon, referring to capital and labor as “factors of production” and pointing out how they are “complementary.” In ordinary...
by Dan Mitchell | Oct 24, 2019 | Blogs, Free Market
By every possible measure, Chile is the most successful country in Latin America. Income has soared and poverty has plummeted thanks to market-based reforms. It’s not perfect, of course. The nation’s economic freedom score – 7.89 on a 0-10 scale – is good enough for a...
by Dan Mitchell | Oct 19, 2019 | Blogs, Economics, Free Market
John Papola has done it again. His video showing a Keynes v. Hayek rap contest was superb, and was followed by an equally enjoyable sequel featuring a boxing match between Keynes and Hayek. Now he has a rap contest about capitalism and socialism featuring Ludwig von...
