Category Archives: Central economic planning

Central Planning Does Not Work for Schooling, Either

Here is the opening of a recent post at Learn Liberty’s blog: In Kentucky, says scholar Caleb Brown, it’s easy to find a barista who has a bachelor’s degree, but manufacturing companies can’t find the machinists they desperately need — whose pay would start at $60,000–$80,000 a year. That slice of modern economic life comesContinue Reading

Of Fiat Currencies and Central Banks

A grad student in Italy just asked me to suggest topics for research in Money and Banking. Here is my reply: Dear Alessandro, I think the most important topic in Money and Banking in our time is how to replace fiat currencies and central banks with some kind of base money that cannot be debasedContinue Reading

Liquid Assets

The Freeman has published a piece in which I contrast the disorderly allocation of water with the orderly allocation of gasoline. A slice: Now what about water in drought-stricken states? Water prices are set by “authorities” at arbitrary prices that don’t change to reflect water availability. The authorities allocate water to various uses. But howContinue Reading

Federal Aid & For-Profit Colleges

A roommate and teammate from college days recently sent me and others a link to this New York Times editorial: Lessons of a For-Profit College Collapse. His subject line I have used to title this post. Here is my reply: Perk, As both as a staunch defender of profit and loss in free markets, andContinue Reading

Central Planning of Housing Finance

Here is a letter I just sent to the Wall Street Journal: To the Editor: The subtitle of yesterday’s front page lead article, “In Reversal, Administration and Regulators Push to Make More Credit Available to Boost Housing Recovery,” raises the question of why the U.S. government should direct credit to housing at all. It pointsContinue Reading

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