China rose from poverty after the Mao years only because its political leadership embraced private property and a market economy. Unfortunately, today the Communist leadership is moving back to socialism.
While central banks use administered interest rates in hopes of emulating the natural rate, these efforts are always going to fail. Without free markets, there is no natural rate.
Being large doesn't make a country wealthy, nor does being small shrink a country's economy.
Many people believe that the board game Monopoly, developed during the Great Depression, mimics a real-world capitalist economy. Monopoly is a game, not real life.
Can a government regulatory system be reformed? In a word, no. The free market is always the best regulator of quality and safety.
Culture warrior Patrick Deneen takes on the free market and its traditions. Neither of which he understands well.
Much of government-owned transportation destroys rather than adds to wealth. The lack of a sound system of economic calculation is to blame.
People migrate for many reasons, including moving to a better economy and escaping political persecution. But one thing is certain: people are going to vote with their feet.
The simplest action of economics—beneficially mutual voluntary exchange—is also its most profound. People serve each other while improving their own lot in life.
