People (including most mainstream economists) assume that only a government bureaucracy can effectively deal with predicting disasters and alerting people in harm's way. However, this is an area of enterprise that is ripe for free markets.
“He loved liberty as other men love power,” was the judgment passed on Benjamin Constant by a contemporary. His lifelong concern, both as a writer and politician, was the growth of human freedom.
In a free society, legitimate economic success does not fall from the sky or come by force. Behind every fortune lies effort, risk, savings, time, discovery, validation, and social coordination.
Contrary to the expectation of the Luddites, we have only become wealthier than before and workers today enjoy much higher standards of living than workers in the past.
Contrary to the expectation of the Luddites, we have only become wealthier than before and workers today enjoy much higher standards of living than workers in the past.
In a free society, legitimate economic success does not fall from the sky or come by force. Behind every fortune lies effort, risk, savings, time, discovery, validation, and social coordination.
We speak of the “economy” as though it produces goods. Yet, the term really is a fiction, as purposeful individuals working in cooperation with each other are the real producers.
The 19th century saw the creation and expansion of railroads in the United States, which hauled freight and carried paying passengers. One offshoot from privately-owned railroads was the creation of company-built and -operated hospitals to treat their employees in remote locations.
Our author went to St. Croix in the US Virgin Islands, expecting a vacation in paradise. Unfortunately, thanks to the USVI government‘s laws “protecting” the taxi industry, he had to spend a tidy sum of money just getting around.
There are numerous critics of free markets. However, all of those critics also are consumers and they gladly depend upon free markets to satisfy their needs.
