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Gary M. Galles

Gary M. Galles
Gary M. Galles

Gary M. Galles is a professor of economics at Pepperdine University. His recent books include Faulty Premises, Faulty Policies (2014) and Apostle of Peace (2013). He is a member of the FEE Faculty Network.

Gary M. Galles's Articles and Posts

Leonard Read on Voting and the Lesser of Two Evils Anything Peaceful
Leonard Read on Voting and the Lesser of Two Evils

"Does responsible citizenship require casting a ballot for either of these political plunderers?"

What Is Risk Worth? Anything Peaceful
What Is Risk Worth?

Risky jobs like firefighting seem to deserve higher pay, but who decides how much risk is worth?

Are CEOs Overpaid? Anything Peaceful
Are CEOs Overpaid?

Shareholders pay managers to be better, not perfect. 

How Markets Tell the Truth and Politics Tells Lies The Freeman
How Markets Tell the Truth and Politics Tells Lies
Because politics is based more on what people say than on what they do, it often short-circuits the mechanisms for discovering the truth: prices, profit, and loss.
Happy Birthday, Leonard Read The Freeman
Happy Birthday, Leonard Read

Read left a lucrative career to create FEE at a time when freedom’s prospects in the world were bleak.

Where’s My Quid? The Freeman
Where’s My Quid?
Viewing voluntary exchanges as involving equal values leaves people blind to the mutual benefits created by “unequal” exchanges.
#22 – "Voluntary, Market-Based Arrangements ‘Use’ People” The Freeman
#22 – "Voluntary, Market-Based Arrangements ‘Use’ People”

Progressives claim that the free market treats people like commodities. In reality, it is the only economic arrangement that protects the individual.

Ends, Means, and Leonard Read The Freeman
Ends, Means, and Leonard Read
Leonard Read reminded us that we are ends in ourselves, not to be used by reformers for political gain or utopian projects.
Compulsion Is Not Cooperation The Freeman
Compulsion Is Not Cooperation
Competition in the marketplace brings people who don’t know each other and otherwise wouldn’t deal with each other into cooperation.
For the Love of Money? The Freeman
For the Love of Money?
Nobody does everything simply for the money. But criticizing markets for allowing money to mediate amounts to attacking their voluntary basis.
Word Power The Freeman
Word Power
While “liberty” and “freedom” can be used interchangeably, there’s a subtle but important difference between what they connote.
Papal Indulgences and “Impersonal” Markets The Freeman
Papal Indulgences and “Impersonal” Markets
Some people believe the economy should reflect a particular purpose. Such a pursuit requires the coercion of some by others.
Restrict and Stimulate The Freeman
Restrict and Stimulate

Randal O'Toole investigates the housing boom and bust, and comes up with some things you don't hear about in mainstream accounts.

Supply-Side Economics in One Lesson The Freeman
Supply-Side Economics in One Lesson
Critics of supply-side economics ignore long-term consequences, to say nothing of how policies affect margins of choice. 
Krugman Plays Pharaoh to Capital's Exodus The Freeman
Krugman Plays Pharaoh to Capital's Exodus
New York Times columnist Paul Krugman has used Cyprus’s crisis to endorse controls on international capital flows, arguing that “unrestricted movement of capital is looking more and more like a failed experiment.” Unfortunately, his scapegoating of investors as the problem, while offering government control as the solution, confuses cause and effect.
The Clenched Fist and the General Welfare The Freeman
The Clenched Fist and the General Welfare
A clenched fist is effective for coercing, restraining, and penalizing others. But it cannot create. 
If You Like Wikipedia, You Should Love Markets The Freeman
If You Like Wikipedia, You Should Love Markets

Wikipedia's success illustrates all the benefits of free and voluntary association that free markets provide despite government obstacles. 

Unions: Freedom of Coercive Association? The Freeman
Unions: Freedom of Coercive Association?

Labor law allows unions to impose themselves even on workers and employers who do not want to associate with them. That's not freedom of association, it's coercion and extortion, says Gary Galles. 

Gridlock: Why We’re Stuck in Traffic and What to Do About It The Freeman
Gridlock: Why We’re Stuck in Traffic and What to Do About It
From Economic Man to Economic System: Essays on Human Behavior and the Institutions of Capitalism The Freeman
From Economic Man to Economic System: Essays on Human Behavior and the Institutions of Capitalism
Economic Facts and Fallacies The Freeman
Economic Facts and Fallacies
Compromise, Principles, and Politics The Freeman
Compromise, Principles, and Politics
Misunderstanding Efficiency The Freeman
Misunderstanding Efficiency
Need and Public Policy: Handle with Care The Freeman
Need and Public Policy: Handle with Care
Vindicating Voluntaryism The Freeman
Vindicating Voluntaryism

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