Since Bolivia's economy has experienced a 3.8 percent growth rate over the last year, many socialists see this as airtight proof that socialism can work and that Venezuela is merely a result of mismanagement and fiscal irresponsibility on Maduro's behalf.
Public employee unions are rubbing a purple bruise, inflicted by the U.S. Supreme Court when it ruled in Janus vs. AFSCME that government workers don't have to pay unions to keep their jobs. But the unions and their partners in Sacramento aren't going to let a little Supreme Court decision get in the way of a cushy arrangement they've enjoyed for decades.
Can Americans Remember the Virtue of Independence (and the Corrosiveness of Dependence)? | Barry Brownstein
Many virtues help maintain freedom, beginning with keeping our word and honoring our contracts. Deceit corrodes liberty. Essential to freedom is respect for the rights and property of others-our rights are only as strong as our respect for the rights of others.
The just-announced Janus decision that mandated union fees for government employees were unconstitutional is a blockbuster decision increasing liberty in the labor market. However, it was not this term's only decision defending worker freedom. In an important case, the Supreme Court just held, 5-4, in Epic Systems v.
For as long as I can remember, I've puzzled about why people become communists. I have no doubt about why someone would stop being one. After all, we have a century of evidence of the murder, famine, and general destruction caused by the idea. Ignoring all this takes a special kind of willful blindness to reality.
Many politicians often cite their motives as focused on protecting historically marginalized groups from exploitation and oppression. I don't think anyone objects to this goal. The question is not if we should attempt to maximize opportunities for minorities, but rather if government is a suitable mechanism for achieving those aims. It is no coincidence that minorities often struggle the most in domains of social and economic life where the government is most involved.
In the spring of 1999, I taught an MBA economics class to a cohort of 30 Chinese students. The class was split between students from Beijing and Shanghai. Students from Shanghai-having more experience with the beneficial impact of liberalizing markets-were much more willing to embrace the ideas of classical liberalism.
In Europe, air travel has been a blissful example of how the free market can lower transport costs for consumers. But now, it is coming under fire from environmentalists. Whenever you book a flight and look at your receipt, you'll find that a large portion of what you paid happens to be taxes.
As more Chinese have left farms in the countryside to work in factory cities, the suicide rate has plummeted. This may be shocking to many people in rich countries. That is because many people who enjoy post-industrial prosperity worry about "sweatshop" conditions and exploitation in factories.
Just like last year, the CEO-to-worker pay ratio reported by the AFL-CIO gets my annual "Biggest Blindly Accepted Statistical Fairy Tale of the Year Award." Well no, it's actually a tie with the gender wage gap myth and the incessantly repeated "77 cents on the dollar" statistical falsehood.
Looking over the political and economic landscape of what Karl Marx's ideas wrought, over especially the last one hundred years, one might think that his name and his legacy would be held in the same hatred, contempt, and disgust as Adolf Hitler, the fashioner of German National Socialism (Nazism).
A Startup Designed a Cheap Alternative to Braces. Orthodontists (Naturally) Want It Regulated. | David R. Henderson 65
Notice the price difference between this new technology for orthodontics and the old. You can see why orthodontists are arguing against it: some of them would lose their jobs and many of them would lose income from this new Schumpeterian competition.
Transportation of produce opens up the possibility of contamination and rotting. Some problems are inevitable, the result of one of the largest, most efficient food delivery networks in the world. But, as has occurred too many times, misguided federal policies have unintended consequences that lead to increased suffering and complications.
That Silly Obamacare Rule that Forces Restaurants to Change Their Menus Is about to Go into Effect | Michelle Minton
Within days, chain restaurants and grocery stores nationwide will have to comply with a high-cost, low-value Obamacare menu-labeling mandate. Failure to comply with the law could land shop owners in prison for a year with a fine of up to $100,000 and a year in prison.
California is a lot like France. They're both wonderful places to visit. And they're both great places to live if you already have a lot of money. But neither jurisdiction is very friendly to people who want to get rich. And, thanks to tax competition, that's having a meaningful impact on migration patterns.
18 Spectacularly Wrong Predictions Made Around the Time of the First Earth Day In 1970. Expect More This Year. | Mark J. Perry
Around the time of the first Earth Day in 1970, and in the years following, there was a "torrent of apocalyptic predictions" and many of those predictions were featured in his Reason article.