markets

In spite of the declared “independence” of the Federal Reserve from the political control of either Congress or the White House, America’s central bank is a branch of the U.S. government that is responsible for setting monetary policy.

An essential purpose of allowing markets to be free and open in all circumstances is precisely to take advantage of what people can imagine, create, and produce to meet changing patterns of demand in their respective corners of society.

Capitalism is the best solution to deal with the Coronavirus.

The Coronavirus outbreak will bring long-lasting lessons to all people of Earth. The one message we must fight is that big government solved the crisis.

In a recent survey of business economists, only 4 percent said they expected a recession to begin by the end of the year.

The number one problem of all public debate about politics and economics is the failure to name the state. If this would change, so would public opinion.

After the collapse of communism in the 1990s, there was confidence that democracy had won and the market economy had shown its superiority to government planning.

Numerous misunderstanding and mythologies surround the meaning of capitalism and competition, but few match the confusions over the meaning and relevance of “monopoly” in the workings of the market economy.

Few things are as clear as the bankruptcy of the political “left.”

Whatever economic freedom we enjoy in the world today is due, to a great extent, to the ideas and efforts of the classical liberals and economists of the first half of the nineteenth century.

Socialism doesn’t work because it tries to root out human nature. Capitalism works because it harnesses it.

The world is threatened with a renewed wave of anti-capitalism and anti-business sentiments and policies. Many who cheered the demise of Soviet communism in the early 1990s, presumed that this meant that, by default, the case for free markets and competitive enterprise had won in the battle of ideas. Over the last twenty-five years it has become clear that the same misguided arguments against free market capitalism constantly reemerge, like an ideological vampire waiting to rise from the intellectual grave and drain market freedom of its lifeblood by more government regulations and controls.

Eighty years go, on February 4, 1936, one of the most influential books of the last one hundred years was published, British economist, John Maynard Keynes’s The General Theory of Employment, Interest and Money. With it was born what has become known as Keynesian Economics.