Category: Economic Freedom

Happy Star Wars day!

The new Star Wars, Episode VII: The Force Awakens, opened across the US and worldwide today, and I can’t tell you anything about how well it’s doing. I’ve been avoiding Googling it because I’m a huge nerd and I don’t want to accidentally uncover any spoilers. (I haven’t seen it yet.) But I do know that the presales were over $100 million. So even if people end up hating it, it’s already done pretty well.

(Not that kind of spoiler.)

Eric Boehm, who is the national regulatory reporter for Watchdog.org and who I had the pleasure to meet at a conference last April, read my post this past Monday on Lando Calrissian as a Star Wars entrepreneur, and asked me to join him for a Star Wars-themed discussion of freedom and virtue for their regular podcast.

The podcast is up today. My interview comes up in the second half, but the whole show is worth your time. You can find it here.

And — okay, okay, I’ll say it — may the force be with you.

Note: Don’t take this guy’s ship. It didn’t work out well for the last guy.

With the newest installment in the Star Wars universe, Star Wars: The Force Awakens, releasing this Friday, I figured we need more Star Wars posts here at the PowerBlog. (Does the Force tend to corrupt?)

Because I’ve completely failed to maintain a cautious optimism and am now totally geeked for the new film, I recently re-watched the original trilogy (not that other one, oh no). Among other insights, I noticed that at least one major character is a small business owner: Lando Calrissian.

Lando explains his business philosophy in the clip from The Empire Strikes Back below … right before he sells out Han and Leia to Darth Vader and Boba Fett.

If you keep watching, you get see what is perhaps the worst first meeting with a girlfriend’s dad ever.

Now, notice: Lando’s gas mining operation on Cloud City has done well because he’s managed to keep the government, the Empire, out of his business as well as stay out of the mining guild. Doing so is “advantageous to everybody.” It attracts a certain clientele that would either be under-served or not served at all by larger businesses under a different regulatory climate.

No doubt, operating under the radar (or tractor beam, as the case may be) also allows Lando to charge lower prices, as he presumably wasn’t paying taxes to the Empire or dues to the mining guild.

However, (more…)

Blog author: jsunde
Thursday, December 10, 2015
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elvesIn “The Elves and the Shoemaker,” the famous fairy tale by the Brothers Grimm, a cobbler and his wife struggle to survive, barely making enough to eat (never mind investing in the future of their business).

One morning, however, they wake to find that their last scraps of leather have been turned into a remarkable pair of shoes. Not knowing the source of such craftsmanship — and apparently incurious — the cobbler sells them off at a higher price, gaining new capital to grow his business. Each night thereafter, the miracle continues, and the enterprise grows in turn.

Months later, they finally take an interest in the source of such help, staying awake through the night to spot two naked elves, each happily laboring to make more shoes. The wife sews clothes for the elves, who, after finishing their work, express their thanks and graciously depart, never to be seen again.

One can find several morals or lessons in the tale, but Jeffrey Tucker does a marvelous job of highlighting its themes on the meaning of work, the gift of exchange, and the glories of capitalism. (more…)

The recent terrorist attacks in Paris have again brought to the forefront discussions about problems of culture faced by both Europe and the United States. The attacks have complicated western responses to the Syrian refugee crisis, with concerns about the stated intentions of groups like ISIS to smuggle operatives into western nations among the legitimate refugees in order to carry out terror operations. And of course, the questions of the compatibility of Islam with western political and economic values, as well as questions about the will of western nations to defend and uphold those values have returned as well. Acton’s Director of Research Samuel Gregg joined host Al Kresta last Tuesday on Ave Maria Radio’s Kresta in the Afternoon to discuss these important issues; you can listen to the full interview via the audio player below, and be sure to check out Sam’s article “The End of Europe” at Public Discourse.

laughton-465-(1)1Today marks the 152nd anniversary of the Gettsyburg Address, the speech given by Abraham Lincoln after the battle which left 7,000 American soldiers dead and 40,000 wounded.

Given its power and permanence, it may seem strange to memorialize it by pointing to an obscure comedy film from the 1930s. But it’s one that stirs all the right sentiments.

In Ruggles of Red Gap, the great Charles Laughton plays Marmaduke Ruggles, an English manservant who has been gambled away by his master (a duke) to a pair of unsophisticated “self-made” millionaires from America (Egbert and Effie). Ruggles sails to the New World, settles in with his rambunctious new employers, and hilarity ensues. (more…)

Blog author: jcarter
Tuesday, November 17, 2015
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driving-carOne of the most important socio-economic factors in America is social mobility, the ability of an individual or family to improve (or lower) their economic status. And one of the major factors in increasing social mobility is to simply increase mobility. For example, if you have to walk to work, you are limited to jobs within a few miles of your home. But if you can drive to work, the number of job opportunities available to you may increase considerably.

Most of us who have access to individual means of transportation take that connection for granted. But for the working poor, a car may not only help them get to a place of employment, it can help them drive away from poverty. For instance, a recent study finds that for low-income residents of high-poverty neighborhoods, having access to an automobile can lead to greater economic opportunities:
(more…)

industrial-revolution-1024x665Economist Deirdre McCloskey is set to release the long-anticipated conclusion of the Bourgeois Era trilogy sometime next spring.

The book, Bourgeois Equality: How Ideas, Not Capital or Institutions, Enriched the World, will build on her thesis that our newfound prosperity is not primarily due to systems, tools, or materials, but the ideas and rhetoric behind them.

“The Great Enrichment, in short, came out of a novel, pro-bourgeois, and anti-statist rhetoric that enriched the world,” she writes, in a lengthy teaser for National Review. “It is, as Adam Smith said, ‘allowing every man [and woman, dear] to pursue his own interest his own way, upon the liberal plan of equality, liberty, and justice.’”

In an age where the Left continues to make age-old Marxian arguments about the destructive ju-ju of accumulated wealth, and where the Right is increasingly prone to react on those same grounds, McCloskey reminds us that the premises are entirely different. (more…)