The president’s actions might capture media attention and create the impression that he is going to bat to protect threatened jobs, but the visible effects of such random blundering about will be tiny in comparison with the far-reaching effects on corporate managers and owners across the board, because such selective intervention in the details of companies’ operations epitomizes the kind of action by which governments create what I have called regime uncertainty—a pervasive fear that existing private property rights in one’s property and the income the property yields will be attenuated or destroyed by unpredictable changes in government taxation, regulation, or other action.
Tag: intervention
David Hume on Self-Coordinating and Correcting Market Processes
David Hume emphasized that commerce and trade were among the most important avenues to offer opportunities to raise people’s standards of living, and to bring refinement and cultural betterment to a growing portion of a nation’s population.
But It’s Illegal
How Government Regulation Makes Us Poorer
Oftentimes people, including so-called experts, compare apples and oranges by looking at data “before” and “after” an event, for instance, when discussing the effects of raising the minimum wage. So they might say that employment before was similar to after the hike, and then conclude that the change had no effect. But this is wrong, because there are plenty of changes in the economy that took place between the before and after — not only the minimum wage. So in order to figure out the effect of the minimum wage specifically, we must compare the “after” situation with what would have been had there been no minimum wage hike — the unseen.
Why We Need Less Politics and More Private Governance
We’ve lived through another election season, and this year, as with every years, the candidates competed to tell us about all the ways they were going to use the power of government to make our lives better. Unfortunately, many voters appeared quite sympathetic to the idea that government action can improve living standards and generally make markets work better. That’s the bad news. But, there are also trends at work right now that are bigger than any single election cycle, and while the candidates this year provided little reason for optimism, the voters themselves may be growing skeptical of just how much the government can solve all their problems. Nevertheless, one of the most important things we can do is really explain and understand how markets, and not government intervention, are our best hope for an orderly and prosperous society.
Supporting the Lesser Evil and Avoiding the Greater One are not the Same Thing
There is a great moral difference between supporting the lesser evil and avoiding the greater evil. To support the lesser evil is to condone evil, which is a morally reprehensible act. On the other hand, to avoid the greater evil is a legitimate act of self-defence.
The Never-Ending Contest in Politico-Economic Life
Written by Robert Higgs. A contest is under way in the world between the forces of creation, improvement, and progress and the forces of destruction, spoliation, and retrogression. This contest has been going on for thousands of years, and except during brief interludes the negative forces always kept the positive forces firmly in check. Roughly…
Immigration Controls Are Socialist
The liberal thinkers of the 19th century got a few things wrong, but they were steadfast in their defense of a free market in labor. They upheld freedom of migration as an axiomatic principle, as Stolper put it. They won the argument. And they lived in a time of unprecedented peace and economic growth.
Voluntaryism – Don’t Tread On Anyone
If free people do nothing to fight for the freedom of everyone, then all will soon be enslaved. If those with even a modicum of freedom do not fight for every last inch they can gain back from the perilous grasp of tyranny, then tyranny will reign over all.
Democracy Is War by Other Means
Democracy is war by other means. Superficially, it is waged with ballots instead of bullets. At the end of the day, those ballots become bullets. Elections load real guns and aim them at real people. If you disobey the commandments handed down by elected officials, beefy men with shaved heads and Ray-Ban sunglasses will come to take you away. If you resist them, hot lead will fly. Elections are scrambles for control over the service weapons that propel those rounds. In such contests, every faction is trying to point the gun barrels at someone else.