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Laissez-Faire Today

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The Genius of the Price System

The other day, a local hamburger joint was advertising a 99 cent hamburger, and I took the offer. It was great. I wondered: how can they make money this way? A few days later, my head still swimming with memories of that great experience, I went back. This time, I dug in a bit deeper …

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Nicaragua and the Cold War Political Theater

Some friends and co-workers spent their holidays at Rancho Santana in Nicaragua, where you can live like a king on a pauper’s salary. The beaches are among the best in the world, and the people are nuts for Americans. There is every amenity and consumer product, even better stuff than you can get at Wal-Mart. …

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Truth in Advertising

If you are a visitor from another planet and you want to find out about real life on Earth, what do you watch on television to give the most-accurate picture: the news, the shows or the commercials? Think about it realistically. We are seeking here an accurate window into what human beings are really like, …

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The Race for the Coolest Stuff

A staple of action/thriller movies like the Mission: Impossible and the James Bond series is that the government agencies have all the cool gadgets, stuff we can’t get. There’s usually some opening scene featuring geeky scientists displaying the latest technology, such as a pen that is really a flamethrower or special shoes that allow you …

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Who Should Control the World?

In the days following the gift-giving holidays, many millions of people stand in judgement over the quality of the gifts they gave and the gifts they receive. Did they arrive on time? Did the quality hold up? Did the reality match the advertising hype? The Internet ads an extra wrinkle. Anyone dissatisfied can post blistering …

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Two Views of the Internet

The barely-defeated legislation called SOPA (Stop Online Piracy Act) hit out of the blue and caused a global scramble among the smart set to make sure it was defeated. It was a close call, and the legislation isn’t going away. It will come back and back again, and it will require relentless vigilance to keep …

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The Elves of Capitalism

One reason that the Brothers Grimm fairy tales have such appeal — more so than the folklore that came before — is that they deal with a world that is familiar to us, a world that was just being invented in the early 19th century, when these stories were first printed and circulated. They deal …

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The Hidden Cost Of The Payroll Tax

The best part of the chaotic debate in Washington about the payroll tax is that this wicked institution is finally getting the public attention it deserves. In most debates about taxation, the payroll tax has hardly ever been mentioned, even though it accounts for more than one-third of federal revenue, and even though two-thirds of …

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The Regulatory State Does Not Like You

Two important regulatory rulings have been issued in the last day that will have a profound effect on your life, both immediately and over the long run. One forces a continued degradation of AT&T’s cell phone coverage by forbidding a merger with the embattled company T-Mobile. The other targets a feature of Google’s Android phone …

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What is Laissez-Faire?

There stand two broad schools of thought: those who believe in state control of one or many aspects of the social order and those who believe in laissez-faire, that is, that attempts at state control are counterproductive to the cause of prosperity, justice, peace and the building of the civilized life. Laissez-faire says that the artists, merchants, philanthropists, entrepreneurs, investors, and property owners — and not the cartelizing thugs of the state — ought to be permitted to drive the course of history.