Entries by Foundation for Economic Education (FEE)

Coronavirus Crisis Exposes a Devastating Consequence of Fed Policy: Americans Have No Savings

Over 100 years, the Federal Reserve has destroyed more than 97 percent of our currency’s purchasing power. During a March 17 address to the nation in response to the COVID-19 outbreak, President Donald Trump asked that Americans work from home, postpone unnecessary travel, and limit social gatherings to no more than 10 people. Ten days […]

Why Taiwan Hasn’t Shut Down Its Economy

As the Austrian school of economics demonstrates in the calculation theory of socialism, no central planning body has the capacity to organize society based on coercive mandates. The main reason is that the central planner is unable to obtain all the necessary information to organize society in this way, as information has subjective, creative, dispersed, […]

A Virus Worse Than the One from Wuhan

Socialism is an intellectual virus, and it’s more deadly than the one from Wuhan. The Wuhan virus pandemic may teach us many new lessons before it’s over—in science, hygiene, interpersonal relations, economics, and more—but one thing is plainly evident already. Socialists need to self-isolate. They are learning nothing from the crisis. Indeed, these righteous opponents […]

Why Are There Toilet Paper Shortages around the World?

There are a few explanations for the run on toilet paper, but one basic economic lesson explains the shortage. Americans have seen scarcity, bailouts, price fluctuations, and epidemics before, but one thing seems to set the coronavirus emergency apart: The toilet paper. Shelves where the product once was stored are bare—and not just in the […]

Panic Has Led to Government “Cures” That Are Worse than the Disease, History Shows

Let’s take the novel coronavirus seriously, but let’s not throw reason, prudence, or the Constitution out the window. Anyone who’s seen the John Hughes movie Ferris Beuller’s Day Off probably remembers the scene where Ferris’s economics teacher (Ben Stein) explains the Smoot-Hawley Tariff Act to a roomful of bored, sleeping students. The scene is brilliant for many reasons, […]

How America’s Gun Culture Cultivates Civic Virtue

From the colonists winning independence from Great Britain to African-Americans vindicating their civil rights, the role of the gun is inseparable from American identity. “It is through the enjoyment of a dangerous freedom that Americans learn the art of reducing freedom’s perils.” —Alexis de Tocqueville Many people are often surprised to learn that I am […]

VIDEO: Why the Movie Industry Is Fleeing California

Why is the film industry abandoning its Mount Olympus? Ah, Hollywood. The Mecca of filmmaking. Thousands of would-be actors, screenwriters, and directors flock to Los Angeles, California to fulfill their dreams of becoming a star because, after all, that’s where movie-making happens. Everyone knows this. And for close to a century, it was true. But […]

To Prosper, Africans Must be Free to Innovate

The African Union must focus on reducing the overbearing costs of intellectual property across the region. Africa’s potential to flourish in the coming years is enormous. The newly-minted African Continental Free Trade Area(AfCFTA) is set to immediately get rid of 90 percent of tariffs on goods traded between member states upon its July 1 implementation, which […]

VIDEO: The Myth That the U.S. Leads the World in Mass Shootings

If you asked me this morning which nation has the most mass shootings in the world, I would have said, with perhaps a flicker of hesitation, the United States. This is a tad embarrassing to admit because I’m pretty familiar with shooting statistics, having written several articles on gun violence and the Second Amendment. Below […]

100 Reasons to Homeschool Your Kids

From fostering creativity and freedom to providing impressive educational outcomes, homeschooling is an increasingly appealing option. This is my 100th article at FEE.org, so here are 100 reasons to homeschool your kids! Homeschoolers perform well academically. Your kids may be happier. Issues like ADHD might disappear or become less problematic. It doesn’t matter if they fidget. YOU may be happier! All […]

VIDEO: ‘Jack Ryan’ Gets 4 Pinocchios on Venezuela

Despite Venezuela’s track record of seizing the means of production of a multitude of industries⁠, there are still those who have trouble calling Venezuela a socialist state. The denials are getting more creative. The most recent comes in Jack Ryan, Amazon Prime’s hit show starring John Krasinski as the protagonist from Tom Clancy’s best-selling books. A Glaring […]

The Growth of Government in America

American government has far outgrown the limits set by our founders in the Constitution. This article is adapted from a study prepared by the Institute for Policy Innovation. Let us begin with a simple but vitally important proposition: Government in America was never supposed to engage in the multitude of activities that it does today. […]

Three Mile Island and the Exaggerated Risk of Nuclear Power

The Three Mile Island accident caused no physical harm, but the event changed public perception of the risks of nuclear energy. You’ve likely heard of the 1979 Three Mile Island nuclear accident. It’s often cited as an example of the dangers of nuclear power. It’s usually mentioned in the same breath as Chernobyl and Fukushima. […]

“We” Should Not Regulate Homeschooling

Modern homeschooling encompasses an array of different educational philosophies and practices, from school-at-home methods to unschooling to hybrid homeschooling. The desire to control other people’s ideas and behaviors, particularly when they challenge widely-held beliefs and customs, is one of human nature’s most nefarious tendencies. Socrates was sentenced to death for stepping out of line; Galileo almost was. But […]

My Family Fled Communism When I Was 6. Now We Fear Our Nightmare Has Followed Us Here

Following the State of the Union address, I found the state of the nation surreal. I kept skimming past articles about the Democratic Party’s proposed economic stimulus packages, collectively known as the Green New Deal. They propose to fund unsustainable sectors like solar panels—which are already heavily government-backed—by targeting more self-sufficient industries, like meat production. In order […]