Monty Pelerin's World

“The single most important proposition in economic theory, first stated by Adam Smith, is that competitive markets do a good job allocating resources. Vilfredo Pareto’s later formulation was more precise [...]

Any Econ 101 student would flunk the course if he showed the aptitude of this Administration regarding basic economics. It is likely most Americans have never taken an economics course, [...]

Image via Wikipedia Henry Hazlitt (1894-1993) was an exceptional journalist and economist. He was an economist who could write clearly (John Kenneth Galbraith was a wonderful writer, but a limited [...]

An earlier version of this article appeared on American Thinker today. Dr. Alan Blinder, Professor of Economics at Princeton and former vice chairman of the  Federal Reserve Board (amongst many [...]

Image by Toban Black via Flickr Most people cannot conceive of a world without regulations. I can’t either. But I can conceive of a world that most would think ridiculously [...]

Image via Wikipedia George Washington posts: “People pointing to the Western economies and saying that capitalism doesn’t work is as incorrect as pointing to Stalin‘s murder of millions of innocent [...]

Image via Wikipedia Image via Wikipedia Recently I posted a piece by Frederic Bastiat written in 1848. It was from his famous essay “What is Seen and Unseen.”  In that [...]

Many people believe that the problems in our current healthcare system are created by a failure of the free-market. Accepting such a premise, it is easy to look to some [...]