Entries by Foundation for Economic Education (FEE)

Three Movies You Should Watch to Understand the Economic Collapse of 2008

Ten years ago, the Lehmann Brothers investment bank collapsed, sparking a world-wide banking crisis and recession. The economy lost at least 5 million jobs, pushing the unemployment rate from 5 percent to 10.5 percent in just a few months. The US stock market lost $7.4 trillion in value while the real estate market dropped $3.4 […]

Labor Unions Set Workers at War with Each Other

Every Labor Day, unions claim credit for every laborer’s gain, equating union members’ gains with benefits to all workers. However, that is impossible to square with what happens when some special union privilege is threatened, as with “right-to-work” legislation–unions quickly turn to threats, intimidation and violence against other workers. In fact, unions rely on coercion, […]

Facebook Flags, Censors NPR Report on Inflated Government School Shooting Statistics

Earlier this week, NPR reported on the high number of school shootings alleged by the U.S. Department of Education. The 240 school shootings detailed in the department’s report on the 2015-2016 school year was significantly higher than other estimates. So NPR, with the assistance of the non-profit group Child Trends, began doing what good journalists do: they collected […]

PODCAST: Despite Its Rebranding, Socialism Is Still Horrific

We’re experiencing the rise of a new kind of socialist. The original definition of socialism—state ownership of the means of production—is beginning to fall by the wayside. What self-proclaimed socialists are asking for now is for the state to control the means of production. While this might seem like a pedantic distinction, it’s an important one. But the rebranding […]

Elizabeth Warren’s ‘New Deal’ Is Closer to National Socialism than Democratic Socialism

In an episode of the HBO comedy series Crashing, libertarian Penn Jillette offered this provocative opinion: The most important revolution in human history, more important than agriculture, more important than writing, is the scientific revolution. The scientific revolution came down to these three words: I don’t know. Jillette added, “No institution, no church, no king, no […]

Democratic Socialism Doesn’t Exist: Like the Loch Ness Monster and Bigfoot, Democratic Socialism Exists Only in Myth

With the upset primary victory of self-proclaimed “democratic socialist”Alexandria Ocasio-Cortez over long-time Democrat representative Joe Crowley, democratic socialism is receiving another boost of popularity in certain quarters of the country. Given the increasing popularity of socialism among young voters especially, it’s clear a basic truth (one might even call it an “inconvenient truth”) needs to be explained: so-called democratic socialism […]

Escape from New York: Big Government Is Chasing Away the Small Businesses It Doesn’t Kill

Big government is crushing small business owners around the nation, punishing decades of hard work and job creation. Too few people speak up as the burdens of the regulatory and nanny states slam down upon them, but every now and then I hear from someone in trouble. Most recently, I received a call from New […]

5 of the Worst Economic Predictions in History

Uncertainty makes human beings uncomfortable. Not knowing what’s going to happen in the future creates a sense of unrest in many people. That’s why we sometimes draw on predictions made by leading experts in their respective fields to make decisions in our daily lives. Unfortunately, history has shown that experts aren’t often much better than […]

Parents Should Be Free to Choose Safer Schools

As back-to-school time approaches, parents are bracing for school-related trauma. The threat of bullying, violence, school shootings, and mental health maladies looms large as a new school year emerges. A 2018 PDK poll found that one-third of parents are concerned about their child’s safety at school, a sharp jump in recent years. And it’s not just peer […]

Dear Democratic Socialists: Entitlements Are Not Rights

In her official platform, socialist Alexandria Ocasio-Cortez supports tuition-free public college and trade school for all, housing as a human right for all, improved and expanded Medicare for all (including full vision, dental, and mental health care), and a federal jobs guarantee for all that includes a $15 minimum wage, full health care, and child and […]

The Good Intentions Fallacy Is Driving Support for Democratic Socialism

“Concentrated power is not rendered harmless by the good intentions of those who create it.” – Milton Friedman hile Venezuela continues to collapse into a living hell for all but Nicolás Maduro and ruling elites, support in America for democratic socialism continues to rise. Graphic reports such as the recent New York Times photo essay about starvation in Venezuela […]

Welfare Spending Did Not Decrease Poverty, Capitalism Did

Last September, I shared some very encouraging data showing how extreme poverty dramatically has declined in the developing world. And I noted that this progress happened during a time when the “Washington Consensus” was resulting in “neoliberal” policies (meaning “classical liberal“) in those nations (confirmed by data from Economic Freedom of the World). In other words, pro-market policies were […]

As Venezuela Collapses, Inflation Careens Toward 1 Million Percent

Socialism has turned the once-prosperous nation of Venezuela into poverty-ridden hellscape. Jarrett Stepman Venezuela’s inflation may hit 1 million percent by the end of the year, the International Monetary Fund announced on Monday. This incredible hyperinflation is reminiscent of Weimar Germany during the years immediately after World War I, in which wheelbarrows full of cash were required […]

Earning Billions Impoverishes Nobody—Quite the Opposite

The fixed-wealth fallacy of redistributionists. by Donald J. Boudreaux The Quotation of the Day is from page 4 of Alan Reynolds’s excellent 2006 book, Income and Wealth (original emphasis): The two young founders of Google, Larry Page and Sergey Brin, quickly made something like $12 billion each by greatly facilitating our information, education, and shopping efficiency. Why should […]

More People Use a Gun in Self-Defense Each Year Than Die in Car Accidents

In the USA there are between 2.1 and 2.5 million defensive gun uses every year. by Mark W. Smith How is it that so many kids raised on “Harry Potter”, “The Hunger Games”, “Star Wars”, and all the Marvel action figure movies manage to miss a critical point of the stories? The lesson being: If you want […]