November 2012

Volume 62, 2012

Lewis Andrews explains how tight immigration controls leave innocent people vulnerable to human traffickers; Warren C. Gibson explores one of Mises’s most important principles, Isaac Morehouse uses fantasy football to illustrate a fundamental economic concept; Sandy Ikeda discusses how market inefficiencies create value; and much, much more. 


Stripping off the Gray Flannel Suit

OCTOBER 16, 2012 by

Everyone knows The Man in the Gray Flannel Suit is about how commerce strangles the spirit, right? They should try reading it, says Sarah Skwire.

Is Being Less Productive Good for Humanity?

OCTOBER 17, 2012 by

Economists know that just making more stuff isn't the same as productivity--it has to be stuff people want, at prices they're willing to pay. The nation's most famous newspaper doesn't seem to get this, so Steven Horwitz delivers a lesson in basic economics.

The Magic of Free Trade

OCTOBER 22, 2012 by

Despite the bad rap it gets, free trade is the key to economic progress. Arthur Foulkes has the details.

What Is Profit?

OCTOBER 22, 2012 by

Fred Foldvary says profit isn't quite as sinple a concept as it might seem at first glance.

Subjective Value

OCTOBER 24, 2012 by

Trade begins with the private inner states of individuals,who value things differently. This is great news for people seeking their own happiness, Max Borders explains, and bad news for people who think they can legislate the happiness of others.

Economics and the Calculation Problem

OCTOBER 29, 2012 by

Central planning can't deliver resources efficiently because it ignores the full complexity of the price system.Alex Salter lays it out.

Wrapping an Enigma in a Mystery: Why Inflation Is So Misunderstood

OCTOBER 31, 2012 by

Inflation wouldn't be so hard to understand if it wasn't wrapped up in so much untruth, wishful thinking, and misdirection, Richard Fulmer says.

The Law of Demand

NOVEMBER 05, 2012 by

Ignoring the law of demand often has perverse consequences. Art Carden has a few examples.

Fantasy Football, Opportunity Cost, and Comparative Advantage

NOVEMBER 07, 2012 by

Don't let the "fantasy" in fantasy football fool you: The game illustrates some crucial points about opportunity costs and comparative advantage. Isaac Morehouse has been keeping score.

The Virtue of Market Inefficiency

NOVEMBER 14, 2012 by

Freeman readers know markets excel at creating new efficiencies and improving everyone's lives in the process. The inefficiencies they create might be even more interesting, says Sandy Ikeda.

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Outsourcing Is Bad for the Economy?

OCTOBER 18, 2012 by

Politicians love blaming economic troubles on outsourcing. But outsourcing is fundamental to the creation of wealth--and it happens constantly, with nearly everything we buy, explains Tyler Watts.

Klinging to Reality

OCTOBER 25, 2012 by

Market failure, thought a slippery concept, does not necessarily call for government intervention. On the contrary, markets are better than political institutions at minimizing the frequency and severity of poor decision-making.

How FDR’s Economic Bill of Rights Changed American Politics

NOVEMBER 01, 2012 by

President Roosevelt's promotion of his Economic Bill of Rights crystallized the rising dominance of statist ideas; the rights he asserted only have meaning if government is the source of all rights.

Diversity, Ignorance, and Stupidity

NOVEMBER 08, 2012 by

No evidence of any kind suggests that we would be sorted proportionally by race, sex, nationality, or any other human characteristic were it not for discrimintation. Nevertheless, much of our thinking, policy, and litigation is based on an assumption of proportionality.


NOVEMBER 11, 2012 by


Robust Political Economy: Classical Liberalism and the Future of Public Policy

OCTOBER 19, 2012 by ,

No War for Oil: U.S. Dependency and the Middle East

OCTOBER 26, 2012 by

Borderless Economics: Chinese Sea Turtles, Indian Fridges and the New Fruits of Global Capitalism

NOVEMBER 02, 2012 by ,

The Triumph of the City: How Our Greatest Invention Makes Us Richer, Smarter, Greener, Healthier, and Happier

NOVEMBER 09, 2012 by

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