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Tag: Free Market

Robert William Fogel (July 1, 1926 – June 11, 2013) »

Robert Fogel died a few days ago. He was a prominent figure in the academic economic history profession for five decades, virtually from the time he burst onto the scene with the publication of a polished-up version of his Johns Hopkins Ph.D. dissertation, Railroads and American Economic Growth, in 1964. This book was the...
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Classical Liberalism’s Impossible Dream »

I can understand why someone might embrace classical liberalism. I did so myself more than forty years ago. People become classical liberals for two main reasons, which are interrelated: first, because they come to understand that free markets “work” better than government-controlled economic systems in providing prosperity and domestic peace; second, because people come...
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Grocery Stores, Healthcare, and the Case for Real Markets »

Think of a supermarket. There are probably more than a hundred in the city of Dallas alone. I can walk into any of them—in most cases, at any time day or night—and buy thousands of different products. The only wait I experience is at checkout, but express lanes speed that along if I want...
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Healthcare as a Complex System »

Complex systems, by definition, are systems that are too complex for any single individual (or group of individuals) to grasp and understand. What difference does that make? It makes a huge difference. Most of us wouldn’t walk into a chemistry lab and start pouring solutions from one beaker into another—at least if we don’t...
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The Rodney Dangerfields of the Ideological Universe »

Libertarian anarchists are the Rodney Dangerfields of the ideological universe. Born and reared in a world pervaded by the state and statism, we must fight our way through a dense jungle of clinging, collectivist vines, obscured by murky, mendacious propaganda, and populated by brainwashed lizards, political opportunists, and a multitude of wormy moochers. If...
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Students: Break Free This Summer! »

Join the Independent Institute this summer for its college seminars in Colorado Springs and Berkeley. These five-day programs feature lectures, readings, multimedia presentations, and group discussions on the fundamentals of free societies. Students will learn about ethics and liberty, Austrian economics, public choice, money and banking, the follies of socialism and interventionism, myths of...
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“There Were Giants in the Earth in Those Days.”—Genesis 6:4 »

There are now many more libertarians in the world than there were fifty years ago. Libertarian writing has increased greatly, and the readership of libertarian literature has increased substantially, especially since the development and widespread adoption of the Internet and the World Wide Web. Yet, it seems to me, we no longer have libertarians...
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Legalize Recreational Drugs »

I suspect that most readers of The Beacon tend to favor personal freedoms to a sufficient degree that they will immediately agree with the title of this post. If we want to live in a free country, freedom has to mean that we are free to make choices that others, including others in positions...
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Texas Tech Free Market Institute »

In January I left Suffolk University to start the new Free Market Institute at Texas Tech University. I remain affiliated as a Senior Fellow with the Independent Institute and plan to continue my productive relationship with them well into the future. Since I’ve continued to write commentary for Independent some of you might have...
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1913—The Final Days of the Old Regime in the United States »

In 1913, exactly a century ago, the United States was a flourishing, economically advanced country. Its real output per capita was the world’s highest. It produced a great abundance of agricultural products and was a leading exporter of cotton, wheat, and many other farm products. Yet it also had the world’s largest industrial sector,...
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