Why free prices and free markets are absolutely vital to prosperity (VIDEO)

Prices must be able to move. They are how we derive inormation about what is valuable and what is not. When the price discovery system is skewed or abolished (it’s never really abolished) the economy becomes highly inefficient.

Read More

Why do so many people fear freedom and free enterprise? (Part 1)

Since I write about capitalism and crony capitalism and government and business every day I have the opportunity to read quite a lot about these subjects from various perspectives. I read libertarians, and conservatives, and liberals, and progressives, and just about anyone else who is interesting. I read the comments here at ACC, and at sites all over the web.

One of the things I am fascinated by is the degree to which some people are seriously afraid of free enterprise,

Read More

Governments like monopolies – that they create

Over the medium to long term the only way a firm or a small group of firms can maintain a monopoly is if it has the backing of the government.

If a firm in a free market attains monopoly status, and this can happen, it won’t last as new firms with better equipment, techniques etc. will enter the market. If however a firm can get in good with the government, then the monopoly firm can get its politician buddies to regulate away competition.

Read More

China tells workplaces they must have Communist Party units (Remember when the FCC wanted govt monitors in newsrooms last year?)

China, despite what you may have heard is NOT now a capitalist country. It is a crony capitalist country. The chief cronies are the members of the old Communist Party.

The Chinese economy is one in which prices are often set by decree, as such there are massive inefficiencies in the system. This is not healthy, and it is destabilizing. The Chinese crony corps knows that there are serious problems with the economy and society, especially as China is witness to its first real economic slowdown in 3 decades.

Read More

Impoverishment: America’s New Normal

An excellent article from Jack Curtis at The American Thinker.

America has stagnated. It isn’t dynamic. Government is thick and restrictive. Businesses are not being created at the rate they were in the past. 20% of households (according to the attached article) have no one working. 1 in 5 households have no workers.

A poison cocktail of fiat financialization and massive government has dripped into the American bloodstream over the last 4 decades or so.

Read More

Walter Williams: Free Markets Are Key To Global Prosperity

This op-ed from Walter Williams comes the same week that the World Bank has proclaimed publicly that it “will end extreme poverty by 2030.” If the institution wants to end such human desperation it would be wise to encourage the rule of law and free markets (and free prices).

Read More

David Stockman: In Praise Of Price Discovery

I think that it’s funny that David Stockman, Ronald Reagan’s former budget chief, starts his column with this sentence:

“This morning’s market is more erratic than Claire Danes off her lithium.”

Seems a little gratuitously mean. Accurate (?) perhaps but mean. But that is one of the things we like about the guy. His acid.

Read More

Do some people not trust markets simply because they don’t understand what a market actually is?

From a few years ago. Sadly we are headed the wrong direction on the curve these days.

Of course some people who clearly do not understand what makes a market, nor why the market mechanism drives down costs and increases quality of life for everyday people will argue that markets are evil because, well, because they’ve been told all their lives that markets are evil.

Read More

Rand Paul courts the black vote

If the GOP was seen as a party of genuine free enterprise (I know, don’t laugh), which made the case to all people that free markets and free prices generate prosperity and that government intervention and cronyism lead to stagnation and despair, the party could make serious progress with non-white voters.

Read More

Political entrepreneurs vs the real entrepreneurs

We are regulating our economy to death. One of the main reasons why there is an increasing disparity in wealth in this country is that the crony class is wrapping the middle class and the merchant class – the entrepreneurial class – in red tape. Pay a tax here. Pay a fee there. Do you have a license to do that?  It is harder and harder to build a business – something which is plenty hard to do without the crushing weight of the state.

Read More

Is the fix in? ‘Stunning’ Fed move put bottom under stocks: Traders

In the shadows. Screw the free market.

This fundamentally has been the bet of traders of all kinds for the past 3 1/2 years or so. If things get too bad in the markets the Federal Reserve will come to the rescue. The belief is that the Fed is bigger than the market. That come what may the shamans can offer a “wink and a nod” and all will be well. That is what these guys think they saw today.

Read More

Co-founder of ACC Hunter Lewis: “Keynesianism is crony capitalism, and crony capitalism is Keynesianism” (Video)

This video is from March of 2012 at the Mises Institute. In it Hunter explains why it is that the current economic regime is fundamentally corrupt and what to do about the situation.

Read More

Is There Capitalism After Cronyism?


You bet there is. It’s what we are fighting for. An economic system based on real prices, open markets, and sound money would serve the world so much better than the centrally planned, top down, command and control, fiat money system we must now endure.

Read More