You may not have noticed it when out buying things in the marketplace in the context of your personal budget, but according to the Wall Street Journal (April 24, 2015) the world is awash with too much stuff. We seemingly have too much of, well, almost everything: too many raw material commodities, too much capital, and too much labor. The world, claims the Journal, is suffering from global gluts.
Author: Richard Ebeling
In spite of the great advances in reducing poverty and increasing the freedom and dignity of hundreds of millions of people around the world, the political and cultural climate virtually everywhere around the world is one of anti-business and anti-capitalism.
April 15th is the day that every American is expected to have filed their federal income tax form. Some of us may have done it long before the deadline, some of us will wait until just before the stroke of midnight on April 15th, and some of us may be filing for extensions to defer the actual submission of the full set of income tax-related documents.
There was a time when the Supreme Court of the United States defended and upheld the Constitutional protections for economic liberty in America. This year marks the 80th anniversary of one of the Supreme Court’s finest hours, when it overturned Franklin Roosevelt’s agenda for economic fascism in the U.S.
Discrimination has become a “dirty word.” It has come to carry the “politically incorrect” connotation of prejudice, hatefulness, racism, and cruel intolerance towards others in society. There is only one problem: which one of us does not discriminate? Indeed, everything we do reflects discriminating choices and decisions.
We live in an era in which few can even conceive of a world without the welfare state. Who would care for the old? How would people provide for their medical needs? What would happen to the disadvantaged and needy that fell upon hard times? In fact, there were free market solutions and non-government answers to these questions long before the modern Big Government Welfare State.
A recently released report on the degree of confidence that Americans have in the country’s leading political and economic institutions showed that few of these institutions are held in high regard by the public.
We live in a time, as, indeed, mankind has lived already for along time, in which economic delusions, political demagoguery, and ideological deceptions abound due to the power lusting of those who wish to gain control of government to serve their own ends at others’ expense.
One of the great myths about the capitalist system is the presumption that businessmen make profits at the expense of the consumers and workers in society. Nothing could be further from the truth.
A little more than seventy years ago, on March 10, 1944, there appeared in Great Britain one of the most amazing and influential political books of the twentieth century, The Road to Serfdom by Friedrich A. Hayek, which forewarned of socialist trends in Britain and America that ran the danger of leading to tyranny if taken to their logical conclusions.
Seventy years ago, during the week of February 4-11, 1945, the most momentous conference of the Second World War was held at Yalta in the Crimea between Franklin D. Roosevelt, Winston Churchill and Joseph Stalin. Their decisions have affected much of the world ever since.
The European Central Bank has announced its intention to create out of thin air over one trillion new Euros from March 2015 to September 2016. The rationale, the monetary central planners say, is to prevent price deflation and “stimulate” the European economy into prosperity.
The only problem with their plan is that their concern about “deflation” is a misguided fear, and printing money can never serve as a long-term solution to bring about sustainable economic growth and prosperity
The recent brutal events in France have reminded us how small the world is that we all share. Violence and conflicts that have their origin in one part of the globe shows itself in another part of our planet. And mass media immediately shares those events to the rest of us, no matter where we are.
With the beginning of 2015, what might be a “New Year’s resolution” for a friend of freedom? I would suggest that one answer is for each of us to do our best to become “lights of liberty” that will attract others to the cause of freedom and the free society.
As a new year begins, it is easy to consider that the prospects for freedom in America and in many other parts of the world to seem dim. After all, government continues to grow bigger and more intrusive, along with tax burdens that siphon off vast amounts of private wealth.
This is the political Santa who delivers subsidies of various sorts to farmers or “alternative energy” manufacturers. The Santa who redistributes vast sums of money for educational expenditures, or public housing, welfare and food stamps, or government defense contracts, and even “bridges to nowhere.”
Forty years ago, on December 11, 1974, Austrian economist, Friedrich A. Hayek, formally received that year’s Nobel Prize in Economics at the official ceremonies in Stockholm, Sweden. He delivered a lecture called, “The Pretense of Knowledge,” which forcefully challenged all those who believe that government has the wisdom or ability to successfully plan the economic affairs of society.
This November marks the 25th anniversary of the fall of the Berlin Wall. On November 9, 1989, as the shaky East German communist government resigned, the Berlin Wall came tumbling down. Large crowds formed on both sides of the Wall. East and West Berliners climbed on top, and then people began using sledgehammers and pickaxes to cut holes in it. People started to move back and forth through the Wall, capturing the spirit of a freedom to move without political barriers standing in the way.