The Miracle of the Market

At this time of year especially, the wide variety of individual human preferences and interests becomes abundantly clear. My children’s Christmas lists display this diversity: Molly (13) wants a doughnut pan to feed her baking passion, Jack (11) wants anything tech-related, Abby (9) wants drawing supplies, and Sam (6) wants Lego pieces and stuffed animals. How do the elves satisfy these assorted preferences? It’s the miracle of the market.

Socialism: The Failed Idea That Never Dies

“The not-real-socialism defence is only ever invoked retrospectively, namely, when a socialist experiment has already been widely discredited. As long as a socialist experiment is in its prime, almost nobody disputes its socialist credentials. On the contrary: practically all socialist regimes have gone through honeymoon periods, during which they were enthusiastically praised and held up as role models by plenty of prominent Western intellectuals. It is only after the event (i.e. once they have become an embarrassment for the socialist cause) that their version of socialism is retroactively redefined as ‘unreal’.”

In Praise of Home Delivery Culture

Much of the focus on home delivery culture, both positive and negative, is on lots and lots of stuff becoming more and more accessible. That’s true, and relevant, whether you’re a fan of consumer culture or bemoan it. But home delivery culture also incentivizes businesses to do things that are good for all of us. And it does so through market mechanisms rather than through political haggling.

Operation Fast and Furious: The Forgotten History of the ATF’s Notorious Gunwalking Scandal

The ATF isn’t all bad. In fact, they had a policy of letting illegal gun purchases go between 2006 and 2011. It ended up getting U.S. Border Patrol Agent Brian Terry killed on December 14, 2010, and let Mexican criminals get enough guns that they were found at over 150 crime scenes where Mexican citizens were either killed or maimed. And some of the guns were used in the November 2015 terrorist attack in Paris at the Bataclan. But other than that, it turned out just fine.