Markets

Building on Bastiat’s ‘What is seen and what is not seen’ this text explains how it is that the food and other goods needed by us all arrive in our shops without anyone being in charge.

Anyone interested in privatizing telecoms, or other industries should read this book first to understand the successful innovative approach used in Guatemala.

The essential story of modern Asia is its unprecedented expansion of economic freedom, enabled by market liberalization.

Competition tames concentrations of economic power and redistributes wealth.

Jobs are a means to the end of creating wealth and if provided by government and paid for with taxes they may destroy mor

Some countries prosper while others do not. The difference between the two can be explained by the different sets of rules of coordination, or institutions,

that govern their economies.

The only way to reduce poverty around the world is to increase the rate of economic growth.

For those who are concerned about the environment and are seeking solutions, this book provides a template for dealing with environmental problems.

The best defense of capitalism is that entrepreneurs and businesses have made luxuries that even kings could not afford for centuries accessible to

everyone.

A free market is an endless series of voluntary exchanges between two parties who both expect to benefit from them.

Georgia’s market liberal reforms are arguably one of the fastest reforming nations in the world.

Views on globalization are wide ranging. This paper examines the term and reviews some of the prevailing perceptions about globalization, in particular its impact on women.

Inventiveness has overcome oppressive government regulation in India but how much more productive would entrepreneurs be if these barriers were removed?

There are two possible ways of coping with a changing climate. One is by government regulation and planning and the other is through market processes.

A Socratic dialogue in Swot, Pakistan, between a young student who read Karl Marx’s book “Das Kapital”, and a wise old professor who addresses fallacies in the student’s thinking.

China’s capitalist revolution has depended on finance provided by the informal sector.

This modern fable explains the principles of a market economy in a simple manner and illustrates how unlimited government generates misery and poverty.

The general interest is best served if the state does not enable and encourage collusion amongst producers.

It is a common belief that as population grows people are reduced to misery and poverty, but the facts indicate that the opposite is true, because povertyhas reduced over the last 100 years at a time when populations have been increasing.

In a market economy a person can only get rich by enriching others and offering them what they believe is a good deal.

Say’s Law is often misunderstood. Read the original to understand what it does mean.

Merchants are of more use to all of us than princes or politicians.

Natural resources and the policies that will ensure they are a benefit rather than a curse.

Citizens of municipalities all round the world deserve better governance than they currently receive and the competitive contracting model makes this possible.

The software of free market capitalism is the institutions and rules that provide secure private property rights and their free, competitive use under the ruleof law that treats all citizens equally.

The invisible hand of free market prices leads humans to produce those goods and services that are desired by others in society even if they do not knowthem personally.

The term “capitalism” refers not just to markets for the exchange of goods and services, but to the system of innovation, wealth creation, and social change that has brought to billions of people prosperity that was unimaginable to earlier generations of human beings.

People in poor countries do not lack entrepreneurship, they lack access to capital. Economic growth will be limited without capital formation and capital formation is impossible without recognized property rights. So a formal system of property rights is a prerequisite to the reduction of poverty.

Entrepreneurship derives from the creative power of the human mind and consists of the discovery of profitable ideas that enable market actors to exploit new, socially beneficial gains from trade. It is the driving force of the market, and it makes progress and sustained prosperity

“In the last 20 years the proportion of people living below the poverty line in

developing countries has declined by half, dropping from 43% in 1990 to 21% in 2010. But the latest data from the IMF suggest that growth in emerging economies is decelerating.”

Institutions are vital to the expansion of entrepreneurial activity which is at the heart of the process of development and economy.

Some statements made about markets are thought to be common sense but are simply wrong

Rand advocates capitalism on moral and philosophical grounds as she sees it as the only system that takes account of man.

An interesting and challenging article on the legitimacy of property.