in turn enable further types of interactions beyond the realm of business. The genius of the market is that it enables a wide array of individuals, groupings, and associations to organize spontaneously to advance their various interests in a cooperative fashion that yields win-win arrangements.
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The consequences of American socialism: A review of John Kenneth Galbraith’s Economic Development
John Kenneth Galbraith’s 1963 book Economic Development asks the same question Adam Smith asked: where does wealth come from? His answers are very different…
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The missing guardrail in crisis politics: Discipline
Modern American governance has developed a troubling pattern. Economic shocks like the 21st century’s financial panics and pandemic are often met with vast expansions of…
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Happy birthday to the Wealth of Nations – and to CEI
Today is the 250th anniversary of the publication of perhaps the seminal work of economics, Adam Smith’s An Inquiry into the Nature and Causes of…
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Pandemic Economy: Toilet Paper Supplies Stretched, But Strong
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…
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Sen. Toomey Defends Capitalism
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…
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Big-Mouth CEOs Less of a Threat than Crusading Politicians
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…
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Two Cheers for Nikki Haley’s Defense of Capitalism
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…
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Sustainability Disclosures, Meant to Protect, Could Create Additional Risk for Investors
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…
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Exploring History of Black Entrepreneurs
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…
