Interventionism

As government debt, energy shortages, political unrest, and war risks converge, Mark Thornton argues that Western statism is approaching a reckoning.

The federal government has poured billions of dollars into the mental health industry, and the result seems to be even more diagnosed mental illnesses with no relief in sight.

The federal government has poured billions of dollars into the mental health industry, and the result seems to be even more diagnosed mental illnesses with no relief in sight.

Mark Thornton argues that government efforts to hold down oil prices may be prolonging shortages and setting the stage for an even worse energy crisis.

The so-called free rider problem is touted as a reason for government economic intervention. Like other excuses for intervention, it doesn’t stand up to scrutiny.

Although F. A. Hayek had many important contributions to economic theory, both Rothbard and Mises had major disagreements with Hayek's book, The Constitution of Liberty because of Hayek's support of public welfare measures.

Mortgage rates are at historically normal levels. They are not "too high." On the other hand, home prices are too high after years of subsidy from artificially low rates and government intervention. The answer to the stagnating market is to cut prices.

Vice-President JD Vance has been touting “common-good conservatism.” It is clear that the man has no understanding of economics and the real world.

The mistake is comparing an imperfect market with an imaginary government possessing perfect information, perfect incentives, and perfect foresight. The proper comparison is between real and imperfect alternatives.

While Americans are tempted to see the Chinese economy as something akin to China, Inc., the reality is different. The Chinese government has not found a way to make socialism and interventionism work, no matter what myths might prevail.