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...
by Dan Mitchell | Oct 5, 2019 | Blogs, Economics, Free Market
Last century, I remember reading about the “Washington Consensus,” which was a term that was used to describe the kind of policy advice in those days provided to (or imposed upon) the developing world by the IMF, World Bank, and U.S. Treasury. I never studied the...
