Free Market Liberalism

Don’t Believe Government About Price Inflation by Richard Ebeling It is an old adage that there are lies, damn lies and then there are statistics. Nowhere is this truer than in the government’s monthly Consumer Price Index (CPI) that tracks the prices for a selected “basket” of goods to determine changes in people’s cost-of-living and, therefore, the degree of price inflation in the American economy. On August 19th, the Bureau of Labor Statistics (BLS) released its Consumer Price Index report for the month of July 2014. The BLS said that prices in general for all urban consumers only rose one-tenth...

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Federal Reserve Policies Cause Booms and Busts by Richard Ebeling Since the economic crisis of 2008-2009, the Federal Reserve – America’s central bank – has expanded the money supply in the banking system by over $4 trillion, and has manipulated key interest rates to keep them so artificially low that when adjusted for price inflation, several of them have been actually negative. We should not be surprised if this is setting the stage for another serious economic crisis down the road. Back on December 16, 2009, the Federal Reserve Open Market Committee announced that it was planning to maintain...

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Böhm-Bawerk: Austrian Economist Who Said "No" to Big Government By Richard Ebeling We live at a time when politicians and bureaucrats only know one public policy: more and bigger government. Yet, there was a time when even those who served in government defended limited and smaller government. One of the greatest of these died one hundred years ago on August 27, 1914, the Austrian economist Eugen von Böhm-Bawerk. Böhm-Bawerk is most famous as one of the leading critics of Marxism and socialism in the years before the First World War. He is equally famous as one of the developers of...

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Mr. President, Please Mind Your Own Business by Richard Ebeling Dear President Obama, For nearly six years, now, you have declared your intention and desire of being my Nanny-in-Chief. Your original campaign slogan of “Hope and Change” was really a promise of “Control and Command.” Well, Mr. President, I have a request: Mind your own business. Let me start out with some simple questions. How do you know what is right and good for me? Have we ever met? Do you know anything about me as a real, living distinct individual? Have you the slightest idea about the goals and...

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The Inequality Trap vs. the Issue of Freedom by Richard Ebeling A recent book by French economist Thomas Piketty on “Capital in the Twenty-First Century” has recently caused a major stir on the opinion pages of newspapers and magazines. Piketty has resurrected from the ash heap of history Karl Marx’s claim that capitalism inescapably leads to a worsening unequal distribution of wealth with dangerous consequences for human society. Not that Professor Piketty is a Marxist in the traditional sense of believing that mankind follows a preordained trajectory through history that inevitably leads to a worldly utopia called socialism or communism....

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Misguided Beliefs in Political Leaders by Richard Ebeling This is an election year and as in all past election years we are inundated with promises and proposals from candidates, each hoping to attract our votes. For the most part what they are promising is “leadership” and political solutions to our personal, social and economic problems. They almost always fail to remind us, however, that in the political arena there is nothing they can do for us unless they have coercive power over us. We need to remember that whenever political leaders undertake to “guide” America it always means a...

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A Declaration of Independence from Big Government by Richard Ebeling The Declaration of Independence, proclaimed by members of the Continental Congress on July 4, 1776, is the founding document of the American experiment in free government. What is too often forgotten is that what the Founding Fathers argued against in the Declaration was the heavy and intrusive hand of big government. Most Americans easily recall those eloquent words with which the Founding Fathers expressed the basis of their claim for independence from Great Britain in 1776: “We hold these truths to be self-evident, that all men are created equal,...

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The Rebirth of Austrian Economics: Forty Anniversary of the South Royalton Conference by Richard Ebeling Forty years ago, during the week of June 15-22, 1974, the Austrian School of Economics was reborn during a conference in the small New England town of South Royalton, Vermont. Why was this important? Because the economists of the Austrian School have developed the most persuasive understanding of why only economic freedom can give mankind both liberty and prosperity. During the Great Depression of the 1930s, many economists and political policy-makers argued that capitalism was a “failure” and only wisely guided government intervention and regulation...

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Before Modern Collectivism:The Rise and Fall of Classical Liberalism By Richard M. Ebeling This year marks the one hundredth anniversary of the beginning of the First World War. In June of 1914, a Serbian nationalist assassinated Archduke Franz Ferdinand, the heir to the Austro-Hungarian throne, along with his wife, Sophie, in the Bosnian capital of Sarajevo. This set in motion a chain of events that in July and August 1914 brought all the Great Powers of Europe into war with each other. Men marched off to war in all the major European capitals, cheered on by huge crowds. There was...

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The Wisdom of Adam Smith for Our Own Times By Richard Ebeling The continuing growth in government spending, taxing and regulation of economic affairs in the United States and in many other parts of the world has raised anew the essential issue of political control and intervention in the market place. This June 5th marked the 291st birthday of the famous Scottish economist, Adam Smith. It is, perhaps, worthwhile to recall his insights on the superiority of the free market in place of the heavy hand of government. Adam Smith was born on June 5, 1723 in the small village...

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The Case for Liberty, Through Thick and Thin By Richard Ebeling One of the most important issues before those who care about the advancement of liberty is how the case for freedom can best be made, and what it should include. A controversy has recently arisen among some friends of freedom about whether the case for liberty should be “thick” or “thin.” This may seem esoteric or removed from everyday political issues. But, in fact, it is very important for the long-run success of classical liberalism and a free society. “Thin” Libertarianism and Non-Aggression The advocates of the “thin” version...

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Don’t Believe Government About Price Inflation by Richard Ebeling Sep 1, 2014

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Aug 24, 2014

Federal Reserve Policies Cause Booms and Busts by Richard Ebeling Aug 19, 2014

Böhm-Bawerk: Austrian Economist Who Said “No” to Big Government by Richard Ebeling Aug 12, 2014

Mr. President, Please Mind Your Own Business, by Richard Ebeling Aug 4, 2014

The Inequality Trap vs. the Issue of Freedom by Richard Ebeling Jul 12, 2014

Misguided Beliefs in Political Leaders by Richard Ebeling Jul 8, 2014

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The Rebirth of Austrian Economics by Richard Ebeling Jun 24, 2014

The Rise and Fall of Classical Liberalism by Richard Ebeling Jun 16, 2014

“The Wisdom of Adam Smith for Our Own Times” by Richard Ebeling Jun 11, 2014

“The Case for Liberty, Through Thick and Thin” by Richard Ebeling Jun 10, 2014