For a moment, think of the Internet like a giant shopping mall. The proprietor of this mall would be an ISP. There are only a few mall proprietors in any given city and some cities have one mall. The proprietors are wealthy, but that’s because building a mall isn’t cheap. It’s unlikely any one person could obtain the capital resources to do so. (more…)
The American medical care system has been the center of attention for a while now. Politicians have their “reforms” enacted seemingly every election cycle. We are told to fear greedy insurance corporations, but the political reforms seem to be centered on universal insurance coverage. However, this wrongly assumes that insurance results in a lower price of medical care. (more…)
Whenever I debate with people on the role government, I often hear “the government should do X” almost as though the state is an omnipotent solution to everything and can do so at no cost. I hear this mostly from the left. They essentially believe that government spending more efficiently allocates resources than a competitive market. Furthermore, they view government spending as necessarily expansionist and a correctional tool for market failures.
You don’t have to look far to find a political pundit critical of “unregulated capitalism being unsustainable and destructive to the environment”. While this claim appears rational, it presents a straw man argument by assuming unregulated capitalism has existed in the U.S. and that it causes environmental damage. Of course, this is usually followed up by hysterically demanding the government enact strict environmental “protection” laws. The government loves to throw that word “protection” around because it makes the masses feel warm and fuzzy. However, to the skeptic, it sounds like a flimsy excuse to make power grabs. In my opinion, the best way to protect the environment is through strong property rights and economic freedom. I want to clarify that the U.S. has never had free market capitalism, nor are individual property rights respected in the manner they should be.
Income inequality is one of the many boogeymen created by the state and their parrots. By manipulating statistics and wild speculation, rich people have been vilified as the feudal overlords of the middle class. Nothing could be further from the truth. (more…)
Throughout the history of government malpractice and failure, there have been very few policies containing both of these inevitable pitfalls of state control. Excluding war and economic cronyism (both of which are also “protectionist”), drug prohibition has been the U.S. government’s most expensive and horrendous failure. Prohibition was created out of intent to “rid the world of drugs”.