Markets, Regulation, and Opportunity Cost

A friend in one of my political groups shared a quote culled from a Wall Street Journal comments-section discussion: Government regulation also creates markets in the first place. Markets aren’t naturally occurring phenomena. The quote, meant to rebut the...

Cops and Donuts

A Lesson in Economic Liberty Sometimes, it is the cliche that perpetuates the tale. A story in yesterday’s New York Post would be much less of one had it been about, say, doctors or firefighters and donuts, but when it’s cops and donuts, the incident...

Underestimating Human Ingenuity

There is a very common human failure, one born out of hubris, self-centeredness, and a touch of solipsism. It can be expressed as “if I, personally, can’t envision how something would work, then it won’t.” Phrased thus, it sounds silly, but...

Hating Entrepreneurship

Creative Destruction. Two words that summarize the free market’s perpetual pressures, the constant improvements in productivity that make our lives wealthier, easier, and better. New ways of doing things replace old ones. Printing presses replaced scribes. Farm...