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November 2012

Volume 62, 2012


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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.

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.

Human Trafficking: The Other Good Reason to Reform Immigration

November 14 2012 by ,

The search for a better life often leads people to look abroad for opportunities they can’t get at home. Immigration policies that make this more difficult leave many at the mercy of smugglers and traffickers. Lewis Andrews describes the often dire consequences.

Methodological Individualism

November 14 2012 by ,

“The hangman, not the state, executes a criminal.” Ludwig von Mises’s insight into the source of human action contains a world of wisdom, says Warren Gibson.


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. 

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