WWII

Dr. Gary Wolfram, director of the economics program and professor of political economy at Hillsdale College, discusses how the federal government’s manipulation of the insurance market started as an unintended consequence of a labor policy created during World War II.

In a free-market economy, people have healthy incentives to work and save, to form businesses and invest, to explore, innovate and invent, in these and other ways “to truck and barter.” The incessant desire of man to do better, whether through profit or achievement or goodness, when governed by the rule of law, leads to a progressive society.