No capitalist gets our money unless we voluntarily choose to exchange it for whatever he’s selling. As Mitchell puts it, “Capitalism is the only system that gives people the liberty to make their own choices.”
American leaders and their loyal media pundits love to sit in judgment of other countries’ election, declaring them fair or rigged according to their seemingly meticulous standards. In fact, the real standard is that the regimes “we” like hold free and fair (enough) elections, while the regimes “we” dislike don’t. What about regimes “we” like that hold no elections at all, like Saudi Arabia? They are forgotten whenever the loveliness of democracy is the topic of discussion.
Free markets increase total wealth. Competition encourages entrepreneurs to find new ways to release more value from both people and resources. Because capitalism is voluntary and consumers have choices, the only way capitalists can get rich is to offer us something that we believe is better than we had before. That creates new wealth.
To better understand the nature of government, one can think of it as an agency that sells or, more precisely, rents power to others. The greater the power and the wider its scope, the more opportunities the state’s agents will have to sell access to it in return for favors.
According to the US Bureau of Labor Statistics, teen labor force participation plummeted from a high of 57.9 percent in 1979 to just 34.1 percent in 2011. Part of this decline is related to more emphasis on academics, extracurricular activities, and other structured programming for adolescents. But public policy may also be to blame.
Why homeschoolers often stand out on the job market.
The government’s coronavirus-related unemployment benefits are encouraging some to stay unemployed.
Every five years or so, the United States has a major societal-wide crusade. Sometimes there’s a shocking event. Other times, there’s an ongoing evil. Either way, all Americans are supposed to join forces and take decisive action to win the crusade. And even if you can’t personally do anything, you’re supposed to get very angry.
Congress passed the $2.2 trillion HEROES Act. House Democrats said it gives money to “governments who desperately need funds.” But it also gives lots of money to people who don’t need funds.
Nearly one year to the day after the original Harvard Magazine article appeared, a new Harvard piece profiled Professor Bartholet. Her opinions remain unchanged. If anything, she has doubled down on her belief that the government must be heavily involved in child rearing and education.