When the pundits and critics blame the “free” market for this sort of ridiculous outcome I am left to ponder what an odd definition they must have for the word “free”. Does “free” mean to be influenced and controlled by an implicitly violent cartel of bureaucrats that restricts, regulates, licenses, subsidizes, and outlaws in favor of the few at the expense of the many?
Every rule and regulation or absurd response smothers a student’s curiosity and quenches the possibility of future companies and jobs. As with cancer, it is the damage we do not see that is far more insidious.
Supposedly this [law] would help the underdogs: small booksellers and new authors. Ironically it does the exact opposite. It is the unknown author that has the greatest incentive to discount heavily in order to entice someone unfamiliar with their work. It is small book sellers that are most likely to haggle or “make a deal” when someone makes a substantial purchase.
Regulations are an economic good. They provide a benefit, but like all economic goods they have a cost. However, when economic goods are forcibly imposed their cost no longer bears any relationship to the true demand (and hence price) for them.
The insurance industry is unique in that its product tends to incentivize the very behavior people seek to protect themselves from. This is called “moral hazard.” For example, all things being equal, someone with collision insurance will tend to drive more recklessly than someone with no coverage. Someone with flood insurance will deliberately build their […]
The War on Drugs is perhaps the most unjust “war” ever waged. It is not, as in conventional warfare, a conflict between states, but rather a conflict of a parasite (the state) against its host (the people). Just as cancer grows by attacking its host, so too does state power expand as it attacks its […]
Outsourcing, public-private partnership – this is the Trojan horse of the political entrepreneur that will fool the political class every time into believing salvation from inefficient government lies within. For those familiar with how markets are actually supposed to function, the irony is clear: only harm shall spring forth. One of the more insidious “partnerships” […]
In the words of Bob King, President of the United Autoworkers Union (UAW), the UAW has no long-term future if they cannot expand their membership into Southern auto plants. And it looks like that day may come sooner than anyone expected: workers at the Volkswagen plant in Tennessee recently voted by a margin of 53-47% […]
When Nancy Pelosi said “we have to pass the bill so that you can find out what’s in it” she wasn’t kidding! Four years later the adventure into this 906-page behemoth continues. Apparently taxpayer funded bailouts of insurer losses is one little tidbit they tried to sweep under the rug. This provision is part of the […]
The Washington Post recently published a retrospective account of the deaths of 91 children in 2012 to highlight the one year anniversary of the senseless shooting rampage at Sandy Hook Elementary in Connecticut in December 2012. Clearly this article was intended to strike an emotional chord that would resonate with any sane person. The media […]