March 26, 2020
American consumers, worried about the future of the coronavirus pandemic have continued to buy out available stocks of key products. However, temporary shortages are the exception that proves the rule: the American consumer economy is doing an extremely good job under extraordinary stress, and we have a decentralized market economy to thank for that.
March 12, 2020
This week Sen. Pat Toomey gave an excellent and much-needed speech at the Heritage Foundation on capitalism and its right-leaning critics. Toomey made clear that he anti-market measures promoted by self-described nationalists and populists would be a failure if enacted.
March 4, 2020
Free-market advocates are understandably skeptical of “stakeholder” capitalism—the idea that corporate managers should focus not just on returns to shareholders, but on pleasing a potentially long list of other groups that claim an interest in the operations (and on the profits) of a company. Any given board and management team can apportion their own resources as they see fit, of course, but we small-government types are wary of theoretically voluntary guidelines for social and environmental awareness being transformed into binding legal requirements down the road.
February 27, 2020
Former U.S. ambassador to the United Nations Nikki Haley has written a bold and, for the most part, very good op-ed on the future of capitalism for The Wall Street Journal.
February 21, 2020
The Sustainability Accounting Standards Board (SASB) claims that it focuses on issues that are “financially material” to the companies they are assessing. But materiality is in the eye of the beholder. Critics of the SASB would say that very few, if any, investors actually care about many of the detailed sustainability topics that companies are supposed to provide disclosures on. Instead, many of the topics line up better with the agendas of left-wing advocacy groups who are hostile to market economies in general.
February 20, 2020
Madam C.J. Walker founded and built a company specializing in hair care products that eventually made her a millionaire and international celebrity. Her army of mostly female sales representatives covered the United States and Caribbean and Latin American territories decades before Mary Kay distributors started driving their pink Cadillacs on American highways.
February 14, 2020
A new a three-part video series from the American Institute for Economic Research on Frédéric Bastiat's life and legacy is an excellent introduction to the famous Frenchman’s thought.
February 3, 2020
NBC News and The Wall Street Journal just released a new poll that finds capitalism isn’t underwater with the American public just yet. Registered voters have a generally positive view of capitalism and a generally negative view of socialism. The results are consistent with similar recent polls.
January 31, 2020
The kind of American chain stores and retail formats that dominated the second half of the 20th century have fallen on hard times in the 21st, and commentary on this dislocating trend has become a cottage industry. Our friends at Learn Liberty recently weighed in on the debate with a video titled “Dead Malls, Explained.”
January 27, 2020
Many contemporary environmentalists share two important beliefs: a) that anthropogenic climate change is the biggest threat to the future of humanity and b) that a profit-based economic system is the biggest barrier to addressing that problem. A new short documentary from Reason TV makes the opposite case, arguing that accelerating economic growth and advances in technology are the best strategy for mediating the impact of both the planet’s growing human population and the future dislocations climate change will present us with.