free market

Detroit Bankruptcy: How to Fix Detroit in 6 Easy Steps

"The news is full of stories of Detroit, and understandably so. It’s an unmitigated disaster. But I know how to fix it. Seriously, I do! I have a plan that would cost the state of Michigan nothing – not a cent. It wouldn’t cost DC anything either, and it would turn Detroit into the most thriving city in North America. As a bonus, it would give the remaining property owners in Detroit a financial windfall. Here’s the plan." Continue reading →

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Jeffrey Tucker: The Joys of Living

"How can we really know what we want if we’ve never had it before? The less free we are, the less we know what freedom feels like and how it shapes who we are. The more dependent on government we become, the less we crave independence. This is why it is important to find literature that takes us out of our present moment and introduces us to different ways of thinking. We have to imagine a different ideal. This is why I’m nuts for a book that came out right at the end of the Gilded Age, and just before we got the permanent income tax and the Fed, as well as World War I. It is the last look at the mindset of what I could call the real 'greatest generation.'" Continue reading →

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US tech firms say they are losing business over NSA surveillance

"Revelations about the US government’s vast data collection programs have already started hurting American technology firms, according to an industry survey released this week. The Cloud Security Alliance said 10 percent of its non-US members have cancelled a contract with a US-based cloud provider, and 56 percent said they were less likely to use an American company. In the survey, 36 percent of US firms polled said the revelations would make it more difficult for their company to do business outside the United States, while 64 percent said it would not." Continue reading →

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Chris Becker on South Africa, Gold and the Ludwig von Mises Institute

"We've seen huge growth in private education, private security and private medical industries in recent years, without which we would have seen rapidly declining living standards of South Africans. In a micro sense this inefficient and disorganized state leaves the space for quite a lot of personal liberty and allows people to get on with things outside of government control. With this strong central planning and regulatory ethos, if the government could actually follow through with its grand plans, South Africa would be a very unfree place. I call it 'dangerous efficiency.'" Continue reading →

Continue ReadingChris Becker on South Africa, Gold and the Ludwig von Mises Institute

It’s a Sound-Money Alternative to the Dollar

"It should be no surprise to any student of economics that when government has a monopoly on money, it will be mismanaged. A better approach would be a free market in money: currency competition among entrepreneurs. Bitcoin is one of the opening salvos in this battle. In some respects it is very promising as an alternative currency and as a possible wholesale replacement for a national currency. In other respects it falls short. Bitcoin is a fiat currency that has achieved popularity and value without the mandate of a government legal tender law. On the contrary, the government strongly discourages bitcoin use and has used regulations to frustrate its adoption." Continue reading →

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Jeffrey Tucker: Bitcoin Thwarts America’s Roman Decline

"As the dollar continues to shed its value, and to lose credibility as the world's reserve currency, countless people -- including governments, investors, and common citizens -- are looking to alternatives. These include gold and silver, which are time-honored as stores of value -- but there are other candidates as well. What are some of the alternatives to the fiat dollar? Is the dollar doomed? If it is, what will replace it? And why does government have to be involved in money at all? We'll discuss these questions with economist and historian Jeffrey Tucker, the executive editor of Laissez Faire Books and a Distinguished Fellow for the Foundation for Economic Education." Continue reading →

Continue ReadingJeffrey Tucker: Bitcoin Thwarts America’s Roman Decline

Detroit’s Future in the Face of Bankruptcy

"Over the coming weeks and months much of the media attention will be on the bankruptcy proceedings, themselves, as the courts and responsible parties determine how to reorganize the city’s debt liabilities among the claimants. What will be far more important in terms of Detroit’s long-run future will be the public policies that become the basis for the city’s revitalization and reconstruction. In a new national and global commercial environment, Detroit must make itself attractive and competitive to draw industry and trade — and the accompanying job opportunities — back into what can no longer be considered the exclusively 'motor city.'" Continue reading →

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China’s richest man says ‘common prosperity’, not ‘wealth gap’ is priority

"Zong only went into business in his 40s, selling fizzy drinks to children and reportedly being so short of cash that he slept under a bridge in Beijing because he could not afford a hotel. But the company he launched, Wahaha, whose name means 'Laughing Child' in Chinese, went on to become China’s third largest soft drinks company, according to Euromonitor International. Zong’s fortune, as estimated by China-based luxury magazine publisher the Hurun Report, makes him the richest person in China and one of the wealthiest in Asia. Zong warned: 'If we had egalitarianism… we wouldn’t have enough to eat.' He called for lower taxes to stimulate investment." Continue reading →

Continue ReadingChina’s richest man says ‘common prosperity’, not ‘wealth gap’ is priority

Jeffrey Tucker: Is There A Viable Alternative To College?

"We are going to see the emergence of more credible one- and two-year alternatives to college. These programs will combine real work experience with rigorous learning and cost a small fraction of college. It can’t work for some professions like law and medicine, mainly because of government controls and guild-like admissions certifications. But in fields like technology, design, and business, this seems like a great idea. Sound good? I know of two such programs now. These programs smash the paradigm that’s been around since after the Second World War. They are the grass growing up in the sidewalk cracks." Continue reading →

Continue ReadingJeffrey Tucker: Is There A Viable Alternative To College?