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Does Donald Trump Think Washington Politicians Should Have More of Our Money to Help America Become Greece?

There’s a famous quote attributed to George Washington. Government is not reason, it is not eloquence — it is force. Like fire it is a dangerous servant and a fearful master; never for a moment should it be left to irresponsible action. But it’s apparently an urban legend. There’s no evidence Washington wrote or spoke […]

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Antitrust Laws and the Incredible Bread Machine

The libertarian message of limited government generally is not warmly received in Washington because politicians, bureaucrats, cronyists, lobbyists, contractors, and other insiders profit from the status quo. The D.C. area is now the richest region of the country, filled with folks who gladly support higher taxes because they realize that “They may send an additional […]

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Great Moments in Socialism

Socialism is an economic failure. International socialism didn’t work in the Soviet Union. National socialism didn’t work in Germany. And democratic socialism, while avoiding the horrors of its communist and Nazi cousins, also has been a flop. Socialism fails because it attempts to replace market-determined prices with various forms of central planning based on government-dictated […]

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Free-Market Reforms Are Needed to Boost Chinese Prosperity and Stabilize the Economy

At the risk of stereotyping, the Chinese people are remarkably productive when given the chance. Hong Kong and Singapore are dominated by ethnic Chinese, and those jurisdictions routinely rank among the world’s top economies. Taiwan is another high-performing economy with an ethnic Chinese population. Ironically, the only place where Chinese people don’t enjoy high average […]

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In One Image, Everything You Need to Know about America’s Demographic Challenge

Why are many developed nations facing long-run fiscal crisis according to long-run estimates from the IMF, BIS, and OECD? Poorly designed entitlement programs are a big part of the answer, with the United States being an unfortunate example of how fiscal systems become unstable when politicians buy votes by putting burdens on future taxpayers. But changing demographics is […]

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Economic Freedom in America Is Declining Mostly Because of Creeping Protectionism and the Loss of Rule of Law and Property Rights

This century has not been good news for economic liberty in the United States. According to Economic Freedom of the World, America has dropped from being the 3rd-freest economy of the world in 2001 to the 12th-freest economy in the most recent rankings. Perhaps more important, our aggregate score has fallen from 8.20 to 7.81 […]

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