November 2012 Issue

Volume 62, 2012

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The Magic of Free Trade

Despite the bad rap it gets, free trade is the key to economic progress. Arthur Foulkes has the details.

- October 22, 2012

Subjective Value

Trade begins with the private inner states of individuals,who value things differently. This is great news for people seeking their own happiness, Max Borders explains, and bad news for people who think they can legislate the happiness of others.

- October 24, 2012

Economics and the Calculation Problem

Central planning can’t deliver resources efficiently because it ignores the full complexity of the price system.Alex Salter lays it out.

- October 29, 2012

The Law of Demand

Ignoring the law of demand often has perverse consequences. Art Carden has a few examples.

- November 05, 2012

Fantasy Football, Opportunity Cost, and Comparative Advantage

Don’t let the “fantasy” in fantasy football fool you: The game illustrates some crucial points about opportunity costs and comparative advantage. Isaac Morehouse has been keeping score.

- November 07, 2012

The Virtue of Market Inefficiency

Freeman readers know markets excel at creating new efficiencies and improving everyone’s lives in the process. The inefficiencies they create might be even more interesting, says Sandy Ikeda.

- November 14, 2012

Human Trafficking: The Other Good Reason to Reform Immigration

The search for a better life often leads people to look abroad for opportunities they can’t get at home. Immigration policies that make this more difficult leave many at the mercy of smugglers and traffickers. Lewis Andrews describes the often dire consequences.

- November 14, 2012

Methodological Individualism

“The hangman, not the state, executes a criminal.” Ludwig von Mises’s insight into the source of human action contains a world of wisdom, says Warren Gibson.

- November 14, 2012


Outsourcing Is Bad for the Economy?

Politicians love blaming economic troubles on outsourcing. But outsourcing is fundamental to the creation of wealth—and it happens constantly, with nearly everything we buy, explains Tyler Watts.

- October 18, 2012

Klinging to Reality

Market failure, thought a slippery concept, does not necessarily call for government intervention. On the contrary, markets are better than political institutions at minimizing the frequency and severity of poor decision-making. 

- October 25, 2012

How FDR’s Economic Bill of Rights Changed American Politics

President Roosevelt's promotion of his Economic Bill of Rights crystallized the rising dominance of statist ideas; the rights he asserted only have meaning if government is the source of all rights. 

- November 01, 2012