Steven Horwitz is the Charles A. Dana Professor of Economics at St. Lawrence University and the author of Hayek’s Modern Family: Classical Liberalism and the Evolution of Social Institutions. He is spending the 2016-17 academic year as a Visiting Scholar at the John H. Schnatter Institute for Entrepreneurship and Free Enterprise at Ball State University.
He is a member of the FEE Faculty Network.
No market advocate ever used this phrase. That's for a reason. It's not what we favor.
Famous people are dying at an ever greater rate. This is because there are more famous people than ever. And why is that?
The real credit for the long-run decline in child labor and hours worked belongs to competitive capitalism, which enabled the growth of capital that increased labor productivity and enriched both capitalists and workers.
People adapt to the new situation, staying safe while caring for the safety of others. It's order without top-down authority.
Larger populations create progress not because they have more Einsteins and Fords, but because they have more John Smiths and Jane Does of every race or nationality or skill level or set of experiences imaginable.
The best way to save the planet is not to have fewer kids, but to have as many as you can afford.
The case for freedom is what we learn from each other, not what each of us knows.
That Las Vegas exists is tribute to two human achievements: the wealth that market capitalism has made possible and the toleration that is at the core of the liberal values that underlie markets.
One of the perennial complaints about the US economy is that we don’t “make stuff” anymore. No so.
Thanks to communication technology, the poorest of the developed world live longer, healthier lives in more comfort than did most kings of old.
The problem with the Fed is not that it was the product of conspiracy, but that it was the product of politics.
Patronizing Uber supports entrepreneurial individuals rather than cab companies
Nothing has done more to lift humanity out of poverty than the market economy.
Here are 12 important articles to help you understand sound economics, ideally before you head off to grad school in economics.
Does anyone seriously believe that government agencies better represent and respond to the “voices of the people” than markets do?
For most of human history, the idea of being a full-time mom — let alone dad — was unimaginable.
Friends of Austrian business cycle theory do it no favors when they argue that it fully explains the Great Depression or anything else.
Entrepreneurs only succeed when they accurately predict what consumers will want.
Small-scale socialism is the norm, even within capitalist societies, but on a large scale, it produces chaos and misery.
Donald Trump and Bernie Sanders are both conservatives from the perspective of classical liberalism: they fear spontaneous order and are willing to use force to conserve obsolete institutions.
Celebrating the falling unemployment rate as a victory for Obama-era policies is fraught with complications, but the government’s measurements have been this way for decades.
To argue that students aren’t customers is to ignore the complex diversity of the service industries.
Just as money and markets are not all there is to economic activity, so elections and voting are not all there is to politics.
Tenure protects academic freedom and minority viewpoints from left-wing conformity.
Competition and trade produce cooperation and mutual benefit.
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April 16, 2040, 11:00 AM