Tag: free market economics
Sen. Rand Paul Eviscerates the Left in His New Book, The Case Against Socialism

Socialism has been tried on six continents and in numerous countries, but always with the same failed result. Despite geographic, economic, and other national differences, the experience of socialism follows a consistent trajectory, with its trademark features—poverty, shortages of resources, and repression—always on display. Senator Rand Paul’s new book, The Case Against Socialism, is...
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Where Is Latin America Going?

Reform is within reach, but several obstacles remain.

The Balance of International Payments Is Economic Nonsense

The nation-based “balance of international payments” accounting system is misleading and nonsensical.

Free Traders Should Be More Careful When Defending Trade Deficits

America’s trade deficit with China should not be viewed as “getting more for less.”

Leland B. Yeager: 1924-2018

Leland Yeager, who was a valuable member of the scholarly community, passed away April 23 at the age of 93.

Mises, Military, and Market

September 29 is the birthday of Ludwig von Mises, one of the giants of the Austrian School of economics. In my book Choice: Cooperation, Enterprise, and Human Action, I distill the work of Mises as presented in his masterpiece, Human Action. Elsewhere I have summarized his contributions to economic science, so in the present...
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Giancarlo Ibárgüen S. (1963 – 2016): A Champion of Liberty

Yesterday my heart sank when a former colleague sent me a note saying, “The greatest man is gone... Giancarlo passed away.” This “greatest man” was Giancarlo Ibárgüen S., the former president of Universidad Francisco Marroquin (UFM) in Guatemala, who lost his seven-year struggle with ALS at the age of 53. Giancarlo was my boss...
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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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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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Remembering James Buchanan

I was surprised to see James Buchanan characterized in the New York Times as “an austere man with a severe aspect that many students found intimidating.” I was never a student of his, but the James Buchanan I had the pleasure of getting to know as a guest at numerous meetings of the Mont...
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