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Three Cheers for Civilisation and Free Markets this Festive Season

21 December 2011
As you open your gifts this festive season, or tuck into your dinner, take a moment to think about the extent to which free markets have made this possible. Probably, people from all over the globe have been involved in helping you enjoy your day; people you don’t know and…

Lies, damned lies, and “the evils of capitalism”

30 November 2011
Capitalism, free markets and economic freedom, if these terms are treated as being synonymous, mean that all property and the means of production of goods and services are owned and controlled by individuals. It also means voluntary exchange between individuals free of third party intervention, in other words, individual self-ownership. It…

Creative destruction makes the world go around

21 Oct 11   Jasson Urbach
Is it a selfish desire that drives individuals to seek new ways to make life easier, more enjoyable, and more rewarding? Does this selfish desire require a God-like presence to steer it and manage it so that whatever developments take place become available to everyone in the country? Or should…

The Virtues of Free Markets

18 Aug 11   FMF Policy Bulletin
Free markets have many virtues. Arguably, the most recognised is the expansion of individual choice and thus freedom – through mutually beneficial exchange. Still, free markets promote other important virtues that have heretofore received scant attention. Specifically, through fostering an indefinitely-lived series of exchanges, free markets create a future promoting…

ANCYL Misconceives Economic Freedom

18 Aug 11   Eustace Davie
According to US economist Walter Williams, a simple definition of “economic freedom” (more generally known as “a free market”), is “voluntary exchange between individuals free of third party intervention”. This is certainly not what the ANC Youth League (the ANCYL) mean in their declaration that “7 cardinal pillars of economic…

The Little (Economic) Engine that Could

15 Mar 11   Karol Boudreaux
Despite the relatively stagnant levels of foreign direct investment around the world in 2010, the small African country of Mauritius recently announced that it expects an 8% increase in FDI this year. By liberalising its economy while also focusing on improving the quality of its institutions, Mauritius has created…