free market

Catholic Investor Advises Graduates on the Meaning of Wealth

As a private equity manager and venture capitalist, Frank Hanna knows about how to succeed at business and how to create wealth. But his new book, A Graduate’s Guide to Life is no Art of the Deal-style book about how to get ahead and beat the competition. In fact, almost the opposite: “Competition is not … Read more

The Controversy Over Evangelii Gaudium

I’ve reached the point where I cringe a little every time I hear the name “Pope Francis” at a social gathering. No hard feelings, I hope, your Holiness. I understand that you have a big world to worry about, and can’t anticipate how your words will be heard in every single corner of it. So … Read more

Economics: The Cheerful Science

Chances are, you’ve heard economics referred to as “the dismal science.” That unflattering description is glib and catchy; it is also 100 percent wrong. Let me set the record straight and explain why economics—far from being dismal—is cause for hope, joy, cheer, and optimism. Thomas Carlyle, a 19th-century Scottish essayist, coined the phrase “the dismal … Read more

Is Greed Good?

  What human motivation gets the most wonderful things done? It’s really a silly question, because the answer is so simple. It turns out that it’s human greed that gets the most wonderful things done. When I say greed, I am not talking about fraud, theft, dishonesty, lobbying for special privileges from government or other … Read more

Brave Newt World

  If you’ve been watching cable television regularly, you’ve heard from many analysts who know Newt Gingrich personally. They either call him the smartest man in the room or they tell us Gingrich believes he’s the smartest man in the room. Gingrich has always been a government ideas man, and whenever he says something odd, … Read more

China’s “Superior” Economic Model?

In a recent piece for The Wall Street Journal, Andy Stern, an Obama insider and one of organized labor’s more aggressive personalities, praised what he called “China’s superior economic model.” Does China have a superior economic model? That depends: Superior to what? Mr. Stern, who headed the Service Employees International Union, cited Andy Grove, founder … Read more

Profits are for People

The Occupy Wall Street demonstrators are demanding “people before profits” — as if profit motivation were the source of mankind’s troubles — when it’s often the absence of profit motivation that’s the true villain. First, let’s get both the definition and magnitude of profits out of the way. Profits represent the residual claim earned by … Read more

Libertarianism as Social Ethic

A common argument against libertarianism — heard mostly in conservative circles — is that no moral society can be a free-for-all, devoid of moral content. A social order worthy of the name must be based on certain ethical principles that extend beyond selfishness and individualism. These principles form the basis of culture, which is ultimately … Read more

Free Market, Not Government Policy, Drives Energy Boom

There’s an awful lot that’s stale in the debate on government energy policy. Some stale arguments are nevertheless valid: It’s dangerous to depend heavily on Middle Eastern oil. Others have increasingly been seen as dubious: that global warming caused by human activity will result in catastrophe. There’s stale talk about federal and state laws that … Read more

Millionaires in America

  Recently, CNN’s Money.com posted an article bearing the title, “U.S. Millionaires Population Expanded by 8 Percent in 2010.” According to the article, there are now approximately 8.4 million millionaires in the United States, and last year’s increase was due primarily to rising stock prices, following a 27-percent decline in the number of millionaires in … Read more

A Modest Conservative “Revolution”

From Tom Woods, Jr.’s introduction to ISI’s new book of essays, Back on the Road to Serfdom: The Resurgence of Statism: When we argue that the winds are blowing in the direction of an ever-larger role of the state in American life, we must be careful not to imply that prior to 2007-8 a broad … Read more

OK, How Is This Legal?

I was just told about www.spokeo.com, a new “white pages” service costing (I believe) $2.95 annually.  For free, I accessed my own name, approx. age, address, map location, house photo, phone number, and family members’ names (two of them, anyway), as well as how long I’ve lived in my house.  If I were to pay the … Read more

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