Freeman

The Goal is Freedom

Financial Regulation and the “Money Power”

Insiders will benefit most

SEPTEMBER 28, 2012 by SHELDON RICHMAN

We hear fierce denunciations of what is called the "money power." It is spoken of as mighty, demoniacal, dangerous, and schemes are proposed for mastering it which are futile and ridiculous, if it is what it is said to be. Every one of these schemes only opens chances for money-jobbers and financial wreckers to operate upon brokerages and differences while making legitimate finance hazardous and expensive, thereby adding to the cost of commercial operations.

You Really Want Government Drilling for Oil?

It's about incentives.

JUNE 11, 2010 by SHELDON RICHMAN

You've got to hand it to the people who really dislike free markets. They see them everywhere and especially wherever any serious problem arises. That no free market exists within a thousand miles makes no difference whatsoever.

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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.
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