If you like the free market then you will very much dislike mercantilism. People who supported mercantilism, mercantilists, were often people of high authority in the 15th and 16th centuries such as monarchs, lords, and dukes. Often times mercantilism is paired with absolutism. These people want to be the only economical “winners” in the world; … More The Free Market > Mercantilism
Price controls are quite troublesome. If a government controls prices by putting price ceilings or price floors on a good’s price many things can happen- good and bad. (to clarify: price ceilings: a price can’t go above a certain amount.- price floors: a price can’t go below a certain amount.) First of all, if … More Price Controls – People Controls
Businesses go up and down; businesses go into business and out of business. Sometimes businesses seem to drop and increase at the same time. That is what the “business cycle” is referring to. The Austrian theory of the business cycle gives a great example of why up and down cycle occurs. First, when the … More The Austrian Theory of the Business Cycle
Public goods are goods that once they are made they can be used by the public at no additional cost (besides occasional maintenance and upkeep), such as: lighthouses, highways, and recreational parks. Often times public goods become confused with private goods. Take, for example, the landscaping and exterior of your house. People who go … More Public Goods and the Standard of Living
In the beginning God created the heavens and the earth. ~Genesis 1:1 As I write the rough draft of this essay I am using a pencil. How often do you use a pencil? Have you ever wondered how a pencil is made? I honestly cannot remember if I have ever wondered such a thought. Well, … More A Pencil
“Which promotes greater personal responsibility, the free market or the welfare state?” From my perspective the free market is the greatest promoter of personal responsibility. How in the world could the welfare state accomplish being a promoter of personal responsibility? Just take a look and be amazed. The welfare state provides a person with their … More Gaining Personal Responsibility
Price controls are equivalent to people controls. When a government controls prices and doesn’t allow the free market to function, it is controlling people. With price controls people aren’t able to compete in buying and selling. For example, when at an auction the highest bidder always wins- with price controls there is no highest bidder. … More Price Controls are People Controls
The free market should be the ultimate deciding factor over prices. Some may say that it would be much fairer if the government had control over prices because it would then allow a less fortunate person to buy something he wanted- but could not afford- at a cheaper price. This government control would only lead … More Government Price Control or Free Market Price Control?