The Profound Value of Market Values

Even though economists, like others, don’t know the objective value of anything, they do know that as long as people voluntarily enter market arrangements, all parties to each transaction expect that the subjective value they will receive as benefits will exceed the subjective value they bear as costs. Greater subjective values for all is the result. And any coercive intrusion that forcibly moves the quantity exchanged away from what individuals would voluntarily choose destroys joint gains to participants, making the “solutions” offered by economists’ Wilde-eyed critics worse than the supposed problems used to justify them.

Entrepreneurship is the Best Defense Against Hierarchy

Self-sufficiency often brings to mind recluses living in the woods, raising their own food, and building their own shelter. This doesn’t have to be the case though. Anybody who has the means of creating enough wealth to trade for their wants and needs is self-sufficient. You don’t need to raise your own food so long as you can trade with somebody who has a surplus of food and is willing to trade it with you. As an entrepreneur you cannot be fired by a boss and you’re not reliant on a state to protect you from an egregious employer.

The Lament of the Merely Decent Economist

The first eye-opening moment for an attentive student in a good introduction-to-economics class occurs when that young man or woman learns to see – or learns to look for – that which remains invisible to most people. Such a student starts to search for the unseen jobs lost as a result of the ‘seen’ jobs created or protected by tariffs. He or she begins to understand that government-imposed prohibitions on the free movement of prices and wages have unseen consequences – invariably bad, and typically borne disproportionately by the very persons the prohibitions are ostensibly meant to help. The man-in-the-street has lots of wrong-headed ideas about economics.

Are Free Riders Really a Problem?

A common objection I have seen is that in a free society, where one would contract voluntarily with a private fire department, if your neighbor’s house catches fire and your fire contractor fights it in order to save your house from damage, the neighbor has benefited from your contract without paying anything. Your neighbor is a “free rider.”

Sudbury: Autonomy in Community

More and more people are coming to know the power and flexibility of letting young people learn the way our species evolved: relying on their innate curiosity and drive to explore and engage meaningfully with the world. What’s more, within the world of Self-Directed Education there is a variety of approaches. This makes sense, really, given that self-direction implies a diversity of individual beliefs and preferences, but it means you have to dig a little deeper to get a sense of what self-direction entails.

5 Ways To Think Like a State

Do you notice a pattern when dealing with any aspect of the government at nearly any level? We all have. Experience shows that if something is going to go really wrong, predictably waste your time, annoy you and attack your dignity, and finally just prove to be totally ineffective at accomplishing the task, there’s a good chance that it involves the government. This is one of the most persistent and yet least acknowledged features of modern life.