I read my first book by Joseph Stiglitz last semester. I read Making Globalization Work. I will admit that it is absolute junk, and absolutely horrible to read, but since then I have become addicted to his writing. It just makes great material to criticize. As to not leave me bored, Stiglitz published yet another [...]
Posts Tagged ‘free’
Haiti: Two Hundred Tragic Years
Haiti, in the long-term, needs a government which supports the free-market, property rights and entrepreneurship. In other words, Haiti needs to move towards liberty and laissez-faire, otherwise it will remain susceptible to continued tragedies.
Hayek, the Business Cycle and the Financial System
In “Monetary Theory and the Trade Cycle” Hayek holds that the business cycle is caused by fractional-reserve banking, which is a natural credit organization formed out of the market. If this is the case, then it follows that economic cycles are an intrinsic part of capitalism.
Joseph Stiglitz’ Words of “Wisdom”
Joseph Stiglitz, in “Making Globalization Works”, fails to understand the root causes for market instability. He blames “market fundamentalism”, while the real case is in fact the very regulation he supports.
In Search of that Mythical Free-Market Road Network
There may be many things that the private sector can do better than the State, but roads will always be a public good. A free-market road network would only exist in a world of fantasy. omeone should make this fact aware to the people of El Provencio, a small town in the province of Cuenca (Castilla-La Mancha, Spain). They have been living in a fantasy world for centuries.
Thoughts on Fractional-Reserve Banking
One of the most heated topics within the school of Austrian Economics is whether or not fractional-reserve banking would or should exist in a free market. There are considerable arguments put forth in support of either opinion by various scholars, but ultimately it seems as if fractional-reserve banking does not pass the test.
Forestation through the Free-Market
Roughly half of the world’s original forested surface area no longer exists. We depend on these forests for our survival. The key to long-term ecological sustainability is the free-market and private property rights.
When Charity Saved Rome
The Roman Army was not invincible, and the Roman State did not always have a bottomless treasury. During the First Punic war, Rome found herself penniless and fleetless and soon found herself in debt with the generosity of her private sector.
Winning the War on Drugs
As Federal spending towards drug-use prevention increases, more and more people are using illicit drugs. It is becoming blatantly obvious that higher Federal spending will not solve the drug “problem”. Indeed, history has shown that prohibition has only made the situation worse (such as with the prohibition of alcohol). The only sensible solution is the free market, the economics of choice and liberty.
