Articles

Friedrich A. Hayek (1899-1992), his legacy and classical liberalism

Fortunately, he lived long enough to see his towering intellect recognized again. Both Keynesians and socialists were eventually defeated soundly by the tide of events and the truth of his teachings. Classical liberalism is once again a vibrant body of thought. Austrian economics has re-emerged as a major school of economic thought, and younger scholars in law, history, economics, politics, and philosophy are pursuing Hayekian themes.

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Peter J. Boettke, PhD
November 8, 2022
Friedrich A. Hayek (1899-1992)

Joseph Stiglitz against the free market

But Stigliz condemns inequalities instead of realizing what a blessing they are; otherwise if all men liked the same woman or if they all wanted to be doctors and there were no tambourines, society would collapse. Even conversation would be unbearably tedious because it would be just like talking to the mirror. On the other hand, inequalities of income and wealth in a free society refer to rewards and punishments for serving or not serving the needs of others.

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Alberto Benegas, PhD
November 7, 2022

Markets Aren't Perfect, but Government Is Worse

No serious free marketer believes that markets are perfect. We aren't utopians. Unfortunately, perfect markets and perfect competition are often the starting point of economic textbooks. This rosy starting point leads many to conclude that when conditions are less than perfect, the best course of action for a correction is government intervention. It's wrong.

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Veronique de Rugy
October 24, 2022

Progressive Paradise Lost

Puerto Ricans have lived through decades of this left-wing utopia, and they are fleeing it. The island’s working-age population declined by 100,000 since 2005, as the economy shifted from stagnation to depression. In a parallel universe with free markets and low regulation, Puerto Rico could have become the Singapore of the Caribbean.

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Salim Furth
October 23, 2022
Progressive Paradise Lost

The Heroes of Capitalism: Margaret Thatcher

One of the most pressing deficiencies of the defenders of the market economy: the lack of myths. In contrast to the left and its romanticization of symbols that were once the incarnation of the most stupendous oppression the earth has ever witnessed, the right and its families are orphaned of intellectual and political referents. Therefore, it is necessary to select and resignify some historical figures that, although we may disagree with certain actions, as a whole serve to embody values that we share.

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Ramón Audet
September 19, 2022

Puerto Rican physiatrist: I've been here for two years, and I can't take it anymore.

After two years of struggling daily with a broken system, I have had to make the decision to return to the United States. My situation is just a symptom of an ailing healthcare system that is not prepared to help either healthcare professionals or patients.

Puerto Rican physiatrist: I've been here for two years, and I can't take it anymore. Read More »

Elba Gerena
September 2, 2022
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