If we were to take the greatest economists from all ages and judge them on the basis of their theoretical rigor, their influence on economic education, and their impact in support of the free-market economy, then Frédéric Bastiat would be at the top of the list.
The plight of American workers is bleak, far worse than the official statistics indicate.
The advocates of free-market economics almost invariably pin the blame for government intervention solely on erroneous ideas—that is, on incorrect ideas about which policies will advance the public weal.
Thanks to the doublespeak of monetary-policy experts, the launch of monetary policy leading to high inflation may not be discernible by the public at large.
Booms are not periods of prosperity but of the squandering of wealth. The longer they last, the worse is the devastation that follows.
I wanted to explain free markets in plain English to average citizens, so that they could understand which government policies help or harm them, and, as a consequence, so that they could vote in such a way as to improve their lives.
What ultimately matters for the well-being of society is the degree to which our wants are satisfied, and therefore the actual usefulness of goods.
The only solution to increasing costs is to eliminate government interference in the market and to allow the price mechanism to work as it should. Consumers who pay out of their own pocket will search for the cheapest solutions to suit their needs, while providers of healthcare will compete, through constant innovation, to drive prices down and discover the most efficacious treatments.
