Category Archives: Legal monopoly

Government Regulators are Monopolies

Here is the third article in a series on regulation I have been publishing at FEE: “Government Regulators are Monopolies.” It is part of a project to challenge the validity of government “regulation,” which should more properly be called government “restriction,” as that word describes what government agencies mostly do: they restrict people’s freedom to make voluntary exchanges. The aimContinue Reading

How Free Market Forces Would Regulate Banks

One of my numerous smart and interested students at Towson University (yes, I’m fortunate), a non-economics major named Kristin, has sent me the following question in response to my recent post, “One Reason Governments Should Not Regulate Banks“: How would you rely on free market forces to better regulate banks? Here is my reply: Kristin,Continue Reading

Free enterprise. Repeal licensing.

How governments destroy enterprises and the jobs they create is calmly, and infuriatingly, illustrated in this recent video from the Institute for Justice about appalling business licensing in Chicago. Toward the end, IJ’s voiceover says, “To allow entrepreneurs … to flourish, local governments have to change their approach to licensing business start-ups.” Rarely do IContinue Reading

Janet Yellen Becomes Fed Chair

As usual, I find Russ Roberts’s opinion sound and wise. His concluding sentence: But until the political incentives change, who is chair of the Fed is simply not important as we pretend it is. I expect Janet Yellen to be more of the same. On the Fed in general, here is a passage from Free OurContinue Reading

Nowhere To Run To, Baby

“Software and Design Defects Cripple Health-Care Website” reads the Wall Street Journal’s main headline today. The article describes the frustrations faced by people trying to enroll and buy insurance through the federal government’s not-free “marketplaces.”  There are “coding problems and flaws in the architecture of the system.” The system is not properly “confirm[ing] the identitiesContinue Reading

Good Interview, Superb Essay: Better, Cheaper Health Care

Blogging gives me a chance to introduce and link my readers—many of them my current and former students, I hope, and readers of my book—to various stories, articles, books, and research that I rate A+ for importance and clarity. One such case is the research of James Tooley on for-profit schooling in the slums ofContinue Reading

Let Market Forces Regulate – Buckyballs

The Wall Street Journal’s weekend interview for yesterday and today, “What Happens When a Man Takes on the Feds,” by Sohrab Ahmari, illustrates two of the reasons why market forces regulate public health and safety better than government does, pretty much all the time. (I explore this in Part II of Free Our Markets.) TheContinue Reading

Excerpt of the Day, on Schooling, With a Cameo by Matt Damon

The final chapter of Free Our Markets, entitled “Hope for the Future,” is on what we might expect from free-market education. Here is a bit from early in the chapter: The essential reform is to let parents, not bureaucrats, decide where tuition dollars get spent. Here’s a simple way to think about how this couldContinue Reading

Excerpt of the Day

This is from Chapter 12, “Why the Housing Bust Led to a Financial Crisis”: Government regulatory agencies face no market competition; they cannot be driven out of existence by failure to attract repeat business when they do a bad job.  The rules they propose for regulating business behavior cannot be refused by enterprises that preferContinue Reading

Let’s Free Our Markets for Mail Delivery

Yesterday one of my top micro principles students sent me a link to this Washington Post article on last quarter’s loss by the US Postal Service. The article begins this way: Savings from efficiency efforts and increased revenues from some categories of business were not enough to prevent the U.S. Postal Service from posting a loss ofContinue Reading

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