European countries in the Eastern Bloc were faced with a dilemma after the fall of Soviet Russia. They were tasked with transitioning from a centrally planned economy to a market-based one. That proved more difficult for some than for others. How quickly those countries should make the transition was also a hot topic of debate. Gently nudge the economy along, or rip off the bandage and change everything all at once? Nobel laureate Gary Becker lays out his main reason to fast-track the process, “In any country when you experience rapid change, the window of opportunity to make major changes …
Tag: Free To Choose
Episode 38 – Constitution Crisis (Podcast)
What is the legitimate role of government in a free society? Most agree that there is one, albeit small. The Constitution lays out these roles, but they are ignored and trampled on year after year. Laws are passed, programs are implemented, and taxes are collected all in the name of progress. Yet most conflict directly with the liberties granted and restrictions imposed by the Constitution. The problem is not going away and seems to be getting worse. History is on our side. When governments have overstepped, the results have not been kind. Dr. Walter Williams puts these concerns in an …
Episode 37 – Ed Crane (Podcast)
Is there a more market-based approach to government? Regardless of the outcome of elections, there seems to be a growing number of Americans who are dissatisfied with the result no matter which party is in control. Congressional control flips at a rate you can nearly set your watch to. What are Americans looking for? They’re looking for another way. They’re looking for a solution that the two-party system cannot provide; a choice of candidates that doesn’t force them to sacrifice a portion of their principles. Former CATO President, Ed Crane sums it up, “In my view, there’s a huge disenfranchised …
Dead Wrong® with Johan Norberg – Did China Hurt Innovation? (VIDEO)
Episode 36 – Science and Culture (Podcast)
Where do science and culture meet? The rise in popularity of science fiction has shaped popular culture as of late, but remains a source of controversy in society as a whole. This divide traces back to the days when religion, not necessarily evidence, ruled the day. Still, after all this time, science is treated as an evil by some as opposed to a basis of rational thought. Why? With how far we have come since the days of Galileo and DaVinci, why is science still treated with disdain or indifference by some? Gregory Benford, Professor of Physics at UC Irvine …
Dead Wrong® with Johan Norberg – Game of Thrones – The Real Message (VIDEO)
Episode 34 – Julian Simon (Podcast)
With a human population larger than any point in history, we are consuming more natural resources than at any point in history. So, how can we ever expect to maintain this pace without running out of resources? As it turns out, the people who seriously sound these alarm bells are forgetting one thing. Throughout history, bigger problems have produced bigger solutions. Had those initial problems never arisen, neither would have the solutions. As noted scholar Julian Simon put it, “We need our problems. In some fundamental way we need bigger and better problems. That’s not to say we should run …
Dead Wrong® with Johan Norberg – Did Tariffs Industrialize the U.S.? (VIDEO)
Episode 33 – Culture War (Podcast)
What is liberalism? What is conservatism? The divide between the two opposing ideologies has widened recently, but why? It may have to do with the two sides not only believing that they are right, but believing they have the duty to impose their views on the other half. We’ve moved from an era from which politics and religion were separate. Now, we are walking the border of politics becoming religion. Will that shift result in a culture war, or are we already there? As theologian Dr. Kenneth Craycraft Sr. puts political ideology in terms of religion, “The problem is that …
Episode 32 – Consumer Behavior (Podcast)
Humans are irrational beings. Choices differ from person to person, and even from lab experiments to the real world. So, with all that differentiation, how can economists expect to understand how market forces will impact the decisions that individuals make? It turns out that most individuals go about making decisions the same way, but the results of these decisions vary wildly. Nobel laureate Gary Becker attempts to explain how that process works, “To me, maximizing utility simply means the following: that consumers can order all the opportunities they have available to them…possible choices. They can order them so they prefer …