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.
"Does responsible citizenship require casting a ballot for either of these political plunderers?"
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.
Progressives claim that the free market treats people like commodities. In reality, it is the only economic arrangement that protects the individual.
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.
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April 16, 2040, 11:00 AMREGISTER