Freeman

Economic Notions

The Bias Favoring Governments over Markets

The Success of Markets Is Easily Taken for Granted

JUNE 01, 2002 by DWIGHT R. LEE

Public Interest or Private Interest?

Public Officials Are Self-Interested, Too

MAY 01, 2002 by DWIGHT R. LEE

The Cure Can Be Worse than the Disease

We Need Government Action Less Often Than We Think

MARCH 01, 2002 by DWIGHT R. LEE

Prisoners' Dilemmas and Cooperation

Free Markets Reward Cooperation

FEBRUARY 01, 2002 by DWIGHT R. LEE

Getting the Most Out of Pollution

How about a Market for Pollution Rights?

OCTOBER 01, 2001 by DWIGHT R. LEE

The Environmental Protection Agency's attempt to reduce pollution with command and control suffers from the same problem as attempting to direct the economy with socialism—central authorities dictate outcomes without knowing what the outcomes should be or how they are best achieved.

The Perverse Popularity of Command and Control

How Industry Is Protected against Competition at the Expense of the Environment

SEPTEMBER 01, 2001 by DWIGHT R. LEE

Most government attempts to protect the environment involve imposing detailed regulations on how, and how much, pollution must be reduced. This command-and-control approach does reduce pollution, but as I explained last month, it does so at high cost.

The High Cost of Command and Control

The EPA Misses Opportunities for Low-Cost Pollution Control

AUGUST 01, 2001 by DWIGHT R. LEE

We may not all agree on how much pollution to reduce, but we certainly should agree to reduce it as cheaply as possible. Since cleaning up at least cost is exactly the same as maximizing the cleanup for any given cost, cost minimization should appeal even to those who dislike thinking about the cost of protecting the environment.

EMAIL UPDATES

* indicates required

CURRENT ISSUE

December 2014

Unfortunately, educating people about phenomena that are counterintuitive, not-so-easy to remember, and suggest our individual lack of human control (for starters) can seem like an uphill battle in the war of ideas. So we sally forth into a kind of wilderness, an economic fairyland. We are myth busters in a world where people crave myths more than reality. Why do they so readily embrace untruth? Primarily because the immediate costs of doing so are so low and the psychic benefits are so high.
Download Free PDF

PAST ISSUES

SUBSCRIBE

RENEW YOUR SUBSCRIPTION

Essential Works from FEE

Economics in One Lesson (full text)

By HENRY HAZLITT

The full text of Hazlitt's famed primer on economic principles: read this first!


By FREDERIC BASTIAT

Frederic Bastiat's timeless defense of liberty for all. Once read and understood, nothing ever looks the same.


By F. A. HAYEK

There can be little doubt that man owes some of his greatest suc­cesses in the past to the fact that he has not been able to control so­cial life.


By JEFFREY A. TUCKER

Leonard Read took the lessons of entrepreneurship with him when he started his ideological venture.


By LEONARD E. READ

No one knows how to make a pencil: Leonard Read's classic (Audio, HTML, and PDF)