For far too long, the fixed pie fallacy was the most widely held belief. When wars over resources were too costly to fight, society (not understanding that the ultimate resource is the human mind) went back to the good old trade wars of the mercantilist era. But something changed after the Second World War when Japan took a different path.
Antitrust law will likely affect you personally, either targeting a company you patronize or even your employer. With big changes on the horizon for competition enforcement, here are five popular misconceptions surrounding antitrust…
Understanding that it is governments – not free markets – that create harmful monopolies is monumentally essential in order to harbor a comprehension of basic economic principles.
At first glance, the principles of libertarianism might seem at odds with workers’ right to unionize. However, a closer examination reveals that supporting workers’ right to unionize is entirely compatible with libertarian values. Let’s examine 8 reasons why…
The liberty movement’s success in Argentina serves as an inspiration to similar movements worldwide. It showcases the power of grassroots organizing and the impact that passionate individuals can have when they come together around a common cause.
In honor of Milton Friedman’s birthday, let’s review the American economist’s greatest contributions to the advocacy of free market capitalism.
Tom Hogan has worked at the American Institute for Economic Research, the Cato Institute’s Center for Monetary and Financial Alternatives, and was Chief Economist for the U.S. Senate Committee on Banking, Housing, & Urban Affairs. Our Ethan Yang interviewed him and, in the process, Tom debunked 5 widely-held myths about fiscal and monetary policy. For […]
The free market is a powerful ally in the pursuit of a sustainable future. It rewards efficiency, responsible resource management, and, ultimately, sustainable solutions to environmental challenges. Here’s why…
“Colonization is why Africa is so poor” is something I hear all the time. But it was not until recently that I realized: This impulsive defense of Africa is far from the full truth.
The Chinese regime inherently rejects the ideas and values of individual liberty, meaningful economic freedom, transparency and human rights
In a world dominated by numbers and equations, one economist dared to challenge the status quo and unveil the true power of persuasive language. Meet Deirdre McCloskey, a visionary economist, historian, and writer whose groundbreaking ideas have reshaped the way we understand economic progress.
Somehow, the USSR still has its supporters — and they likely believe one or more myths about Soviet Russia. In this video, we debunk 8 myths that linger about the Soviet Union, even now, more than 30 years after the fall of the Berlin Wall. Also cited are these videos: NIMBYism vs. Gentrification: The Truth […]
Climate change is a serious problem that deserves a serious solution. “Degrowth” is not one. Economic and population growth is — and this video illuminates three reasons sustainable development can only be achieved with economic growth. #1: Economic growth means greater efficiency in technology. #2: Economic growth is driving people and resources to cities […]
Free-market environmentalism combines the ideals of environmental protection with the principles of a free-market economy. It acknowledges that markets can provide powerful incentives for conservation and environmental stewardship, and that private property rights and contracts can be leveraged as tools to protect the environment. But how exactly does this work?
Disasters, such as the horrific earthquake that hit Turkey and Syria in February 2023, bring up a recurring myth — one that demands the wisdom of Frederic Bastiat.
Do minimum wage laws help low-skilled workers? No. Workers are thrown out of work if they cannot produce more than the minimum wage stipulates. If the minimum wage is $15/hour and a worker can only produce $13/hour worth of goods, they will not be hired since no profit-seeking employer would employ someone at a loss.
Why are some countries successful while others aren’t? Is it down to natural resources, colonialism, or can it be better explained by something else?
Ayn Rand, a celebrated author and philosopher, was one of the most influential thinkers of the 20th century. Known for her bestselling novels, such as The Fountainhead and Atlas Shrugged, Rand’s ideas have had a profound impact on the fields of politics, economics, and philosophy.
Capitalism can be viewed as an economic system that has been a driving force in many advanced economies, fostered growth and innovation, enabled people to lift themselves out of poverty, and greatly improved living standards. But it also has many staunch critics, who will argue that, regardless of outcomes or track records, it is a deeply harmful and exploitative system. So, to clear up any confusion, what really is capitalism, and what isn’t it?
The law of supply and demand is often misunderstood and misconstrued, and it has downstream effects for our understanding of economics. In this video, Learn Liberty Basics establishes supply and demand as ever-changing RELATIONSHIPS, not constants. We also lay out some of the early history of our idea of supply and demand. CHAPTERS 0:00 […]
Although now under siege, Hong Kong still shines as an example of what a well-built city-state can be. Its development should be used as an example and a guide toward realizing what is possible.
Using the Lincoln Park neighborhood of Chicago, discover the truth about the housing market. Expert Nolan Gray, California YIMBY Research Director and author of “Arbitrary Lines: How Zoning Broke the American City and How to Fix It,” guides us through the economics and incentives at play in the real estate industry. You might recognize him […]
Uncover how NIMBYism is driving the housing crisis, as residents use the power of the state to restrict development and reduce housing supply. Learn how this phenomenon is exacerbating affordability and accessibility issues for many individuals and families…
Social justice advocates argue that it is “society’s” duty to eliminate pain and inequality wherever and whenever it exists. What is interesting is that I have never met Mr. Society.