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Gary M. Galles

Member of: FEE Faculty Network

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

Obama Admin Hypocritically Attacks Hidden Fees

The Joint Economic Council has made a last effort to burnish the Obama administration’s “consumer protection” reputation with their criticism of hidden fees. But the same administration that purports to protect us from the harm of hidden fees dishonestly imposes far greater abuse on Americans through hidden taxes.

- January 10, 2017

Economists are Skeptics, not Cynics

Economists understand that claims inconsistent with actions justify a very high degree of skepticism. They don’t necessarily believe what someone says, just because they say it.

- December 20, 2016

The Extraordinarily High Burden of Proof for Violating Liberty

One less rewarding consequence of that same fact is hearing something like, “Of course you believe in that; you are a libertarian,” in response to some policy conclusion I have drawn. 

- November 29, 2016

Cato’s Letters Taught America's Founders about Liberty

Cato’s Letters applied John Locke’s ideas to underlying issues that still threaten Americans today.

- September 05, 2016

Democracy Can’t Be Fixed by Having Some Votes Count More

Brennan’s solution fails to fix the incentive problem facing voters that he cites as the reason his reform is necessary.

- September 01, 2016

When Jobs Kill Wealth

Jobs created directly or indirectly by government policies often impose costs on society rather than producing benefits.

- August 30, 2016

Markets, Not Elections, Are Where Your Choices Truly Matter

As November’s election nears, democracy is increasingly invoked as an ideal. Yet democracy is a seriously flawed ideal.

- August 29, 2016

Forget “Unity”: We Need the Freedom to Disagree  

Political "unity" is a false face for crushing disagreement. 

- February 18, 2016

Leonard Read on Voting and the Lesser of Two Evils

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

- January 14, 2016

What Is Risk Worth?

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

- September 02, 2015

Are CEOs Overpaid?

Shareholders pay managers to be better, not perfect. 

- August 31, 2015

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.

- February 04, 2015

Happy Birthday, Leonard Read

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

- September 26, 2014

Where’s My Quid?

Viewing voluntary exchanges as involving equal values leaves people blind to the mutual benefits created by “unequal” exchanges.

- September 18, 2014

#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.

- September 12, 2014

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.

- September 10, 2014

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.

- May 27, 2014

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.

- April 11, 2014

Word Power

While “liberty” and “freedom” can be used interchangeably, there’s a subtle but important difference between what they connote.

- March 14, 2014

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.

- March 03, 2014

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.

- November 22, 2013

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. 

- July 25, 2013

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.

- March 27, 2013

The Clenched Fist and the General Welfare

A clenched fist is effective for coercing, restraining, and penalizing others. But it cannot create. 

- March 20, 2013

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. 

- January 30, 2013

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