Tag Archives: Market Failure

Anti-market bias, unemployment and immigration

by Aschwin de Wolf Posted on May 16, 2010

Economist Bryan Caplan discusses the important topic of market-clearing wages. Why are wages not falling during the recession in order to establish equilibrium and full employment? Caplan gives an answer that seems common sense but receives little attention from professional … Continue reading →

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The political philosophy of bailout

by Aschwin de Wolf Posted on December 1, 2008

All politics is redistributive. Although this is often hidden from view through appeals to the social contract, democracy, and the common good, the recent attempts to reward unsound business practices with taxpayers’ money make even the most sophisticated appeal to … Continue reading →

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Social contract, free ride

by Aschwin de Wolf Posted on December 1, 2008

The publisher Liberty Fund has republished Anthony de Jasay’s book “Social Contract, Free Ride: A Study of the Public Goods Problem.” In this book, de Jasay, one of the most original and sharpest political philosophers of our age, offers a … Continue reading →

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