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September 05, 2017

Markets fail, which is why we need markets

There are generally two views of markets. The first is that markets can do no wrong. The other is that markets fail—and fail often—which is why we need government intervention. But as Nick Schulz and Arnold Kling note, there is a third way that can be summarized as “Markets fail. Continue Reading...
September 01, 2017

How’s socialism doing in Venezuela?

Because of high inflation and unemployment, Venezuela has the most miserable economy in the world. The inflation rate over the past 12 months was 460 percent and the unemployment rate is so high the government stopped reporting it last year. Continue Reading...