Posts tagged Free Markets
LearnLiberty
How can we teach the values of free enterprise and individual responsibility? This entertaining reinterpretation of an award-winning children’s book provides one basic explanation!
(Source: youtube.com)
Profits are the driving force of the market economy. The greater the profits, the better the needs of the consumers are supplied … He who serves the public best makes the highest profits.
Ludwig von Mises
Check out this awesome article from Values and Capitalism: “People-vs-Profits” is a False Dichotomy.
Are we headed for a student loan crisis?
Prof. Davies says the student loan market has all the same ingredients as the housing market, only the student loan crisis will be MUCH worse! Find out why in this interesting video from Economic Freedom.
(Source: economicfreedom.org)
The delusion of the day is to enrich all classes at the expense of each other; it is to generalize plunder under pretense of organizing it. Now, legal plunder may be exercised in an infinite multitude of ways. Hence come an infinite multitude of plans for organization; tariffs, protection, perquisites, gratuities, encouragements, progressive taxation, free public education, right to work, right to profit, right to wages, right to assistance, right to instruments of labor, gratuity of credit, etc., etc. And it is all these plans, taken as a whole, with what they have in common, legal plunder, that takes the name of socialism.
Frédéric Bastiat
Where do you see THIS happening today?
The cost of borrowing money is at a record low. Is this a good thing?
Many argue that we need low interest rates to increase spending and decrease saving, but Prof. Davies explains that artificially low interest rates cause people to spend now, rather than later in the future. It alters spending habits, but it doesn’t create “more spending.”
So, what interest rate is best for the economy? Prof. Davies says the market rate— the rate we get when the Federal Reserve doesn’t meddle in financial markets.
(Source: LearnLiberty.Org)
Let anyone do anything he pleases that is peaceful or creative; Let there be no organized restraint against anything but fraud, violence, misrepresentation, predation; Let anyone deliver mail or educate or preach his religion or whatever so long as it’s peaceful; Limit society’s agent of force—government— to juridical and policing functions… Let the government do this and leave all else to the free unfettered market!
Leonard E. Read, Anything that’s Peaceful
I think the government solution to a problem is usually as bad as the problem and very often makes the problem worse.
Schools of Thought in Classical Liberalism (Part 2): Milton Friedman and the Chicago School.
Milton Friedman was a Nobel Laureate and economist at the University of Chicago and is widely considered the founder of the “Chicago School.”
So what is the “Chicago School”? In part 2 of our series, Dr. Ashford explains that it’s an intellectual tradition that basis its theories on empirical and measurable evidence.
In relation to classical liberalism, the Chicago School assesses the merits of law by the results of those laws. By going about this method, Friedman and the school argued that laws may be well-intended, but it’s not by those intentions that they should be judged, but by the measurable consequences of those laws. It was this conclusion that led the school to believe markets would lead to better outcomes than government in most situations.
So what does the Chicago School say about the proper role of government?
Friedman believed that the government should have 4 realms of responsibility:
- Military and police
- Administration of justice
- Public goods (like defense) and negative externalities (like pollution)
- Protection of children and mentally handicapped
Learn more about this school by watching our NEW video, and check out the rest of the series here: http://www.learnliberty.org/content/schools-thought-classical-liberalism
(Source: LearnLiberty.Org)
