Tag: Property Rights

Creative Destruction—The Best Game in Town »

In his justly famous 1942 book Capitalism, Socialism and Democracy, Joseph A. Schumpeter described the dynamics of a market economy as a process of “creative destruction.” In his view, innovation—“the new consumers’ goods, the new methods of production or transportation, the new markets, the new forms of industrial organization that capitalist enterprise creates”—drives this...
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How John Locke Should Have Saved The Lone Ranger »

I had a glimmer of hope for the 2013 film The Lone Ranger when I read that young U.S. attorney John Reid, aka The Lone Ranger, arrives in untamed west Texas with a copy of John Locke’s Two Treatises of Government. After watching the otherwise entertaining summer action film, I left the theater wondering...
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SCOTUS Decision Offers Hope to Farmers Wanting Economic Freedom »

In addition to collecting information on your telephone and Internet activity, the federal government is collecting your raisins. Yes, you read that right. Since 1937, the federal government has forced raisin growers to hand over without compensation a percentage of their annual crop to a government-sponsored raisin marketing board, keeping this portion from consumers...
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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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Opinion, Meet Fact: “Gun Control” Doesn’t »

The front page of Tuesday’s “Bay Area” section of the San Francisco Chronicle features a story on the latest Field Poll results: “Support Grows for Gun Control,” reporting that a majority of California voters now “view stricter gun control laws as more important than protecting the constitutional right to own a firearm.” Four pages...
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Armen Alchian (April 12, 1914—February 19, 2013) »

Arline Alchian Hoel reports that her father, Armen Alchian, “passed away peacefully in his sleep early this morning at his home in Los Angeles.” He was 98 years old. Armen Alchian was a major figure in the economics profession for more than half a century. At UCLA, where he spent his academic career as...
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Newtown and the Bipartisan Police State »

In immediate response to the Newtown massacre, every pundit began pointing fingers and giving their answers. The problem was gun culture. No, the problem was feminism. Violent video games. Insufficient funding for programs for the mentally ill. Hollywood. Rightwing paranoia. And so on. Now, I have my own views about the cultural conditions in...
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Greatest Hits of 2012 »

Which articles on the Independent Institute’s websites and blogs received the most views last year? We thought you might be wondering! To satisfy your curiosity, we’ve put together two lists—each one shedding light on what most attracts the attention of our Internet audience. The first list of “articles” includes blog posts from The Beacon...
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James Madison Analyzed Regime Uncertainty in 1788 »

In Federalist 62, published in the Independent Journal, February 27, 1788, James Madison writes as follows: It will be of little avail to the people, that the laws are made by men of their own choice, if the laws be so voluminous that they cannot be read, or so incoherent that they cannot be...
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The Fiscal Cliff and Policy Uncertainty »

In today’s issue of the Wall Street Journal, economics editor David Wessel has a useful column about policy uncertainty—worries about government spending, the expiration of provisions in the tax code, inflationary expectations, and the like—and its role in hampering economic growth by discouraging private investment. (The piece is available online to WSJ subscribers here.)...
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