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The Fable of the Bees Revised

Written by Gary North on January 13, 2015

The most influential poem in history is Bernard Mandeville’s “The Grumbling Hive; or Knaves Turned Honest” (1705). It challenged Western moral philosophy, Christian theology, and common sense. It changed the thinking of Western social theorists. Through Adam Smith, it changed the economic world. Yet it was not a good poem. This gives me hope. You […]

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Videos: Traffic Without Traffic Lights

Written by Gary North on January 9, 2015

In the West, we cannot imagine urban traffic control without traffic signs and lights. But the following testifies to the viability of voluntary, free market arrangements. These are sped-up videos of traffic congestion without traffic lights. At normal speeds, it’s even easier. Liberals simply cannot imagine this. Libertarians can imagine it, but they have not […]

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Taxi Drivers’ Last Stand: “Are You Not Talking to Me?”

Written by Gary North on December 24, 2014

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In Europe and now in South Korea, taxi drivers have pressured their governments to make Uber illegal. Uber supplies taxis ordered by cell phone to people who want a ride. It’s illegal, city governments say. The drivers are not licensed as taxi drivers. Taxi drivers want guaranteed jobs and above-market wages. So, they get the […]

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“Illegal Immigrants Steal Americans’ Jobs.”

Written by Gary North on December 17, 2014

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This is another cliché of protectionism. I keep adding more, here: http://www.garynorth.com/public/department162.cfm The logic of economics applies across borders: county, state, and national. Deny this, and you deny economics. Conservatives deny economics. They promote tariffs and import quotas across national borders, but not state and county borders. Ludwig von Mises had a word for this: […]

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Walmart vs. Amazon Price War. Customers Win.

Written by Gary North on November 14, 2014

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A fundamental rule of free market pricing is this: “Customers compete against customers. Retailers compete against retailers.” The latest example is Walmart and Amazon. Walmart headquarters has just sent down a memo. Stores are allowed to match prices on Amazon. Critics of the free market call this “cut-throat competition” I’m all for it. When retailers […]

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Democracy: The Real Deal vs. the Textbook Version

Written by Gary North on September 30, 2014

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James Buchanan won the Nobel Prize in 1986. I started reading him in 1964. He was famous for his criticism of democracy in his book, The Calculus of Consent. He was one of two Nobel Prize winning economists who won the prize after the University of Virginia’s department of economics pressured him to leave. The […]

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