The True Nature of Socialism

My wife grew up in the Soviet Union, and this is precisely how she describes it: The Choice Between Capitalism and Socialism. Take note of the part in bold type: A few days ago, I happened to meet a doctor in our area who has an unusual background. He emigrated to America from Russia, and […]

A Few Short (and One Long) Videos from the Ayn Rand Institute

Some items for your viewing pleasure: Your Child Is Not State Property Adam Smith vs. Ayn Rand Is Charity a Virtue? And a longer one: McBama v. America All of them, and more, well worth watching. Brought to you by the Ayn Rand Center for Individual Rights.

Walter Williams – Wackonomics

I’ve enjoyed Walter Williams’ insights over the years, and here’s another good one: Wackonomics, at Capitalism Magazine: For the U.S. Congress, news media, pundits and much of the American public, a lot of economic phenomena can be explained by what people want, human greed and what seems plausible. I’m going to name this branch of economic […]

Regulated Free Market is a Contradiction in Terms

Consider these two opening paragraphs from a New York Times op-ed: Congratulations on your confirmation as Treasury Secretary, a position which [your predecessor/you] elevated to the level of ruler of the United States financial markets. No doubt these are troubling times, but they are also an opportunity to reshape the regulatory playing field in a […]

George Reisman on Capitalism’s Bad Rep

I could have tried to write a treatise on how the current financial crisis is being positioned by our media and political machines as the last, great failure of laissez-faire capitalism. I don’t need to, however, because George Reisman, perhaps the foremost economist of our time, has already done it for me. I won’t bother […]

Unfettered Capitalism

Sometimes, it’s worth taking a moment to consider the words people use to describe things. Think for a minute about the term that many people use to describe the free market: “unfettered capitalism.” Then, consider the dictionary definition of “fetter” (from OS X’s built-in dictionary): fetter: verb: restrain with chains or manacles, typically around the ankles, […]