Government interventionist policies are aimed to solve perceived problems of the completely free market but often result in harmful over-regulation.
In this entry, Timothy Sandefur explains the origins and role of the American judiciary system.
The National Labor Relations Act (NLRA) force workers into being represented by unions, regardless of their own preferences, and thus lack legitimacy.
Libertarians believe that laissez-faire policy, or the freest form of economy, provides the greatest net benefit to individuals and to society.
Strict liability rules require people to take responsibility for damages done to others’ property and are therefore favored by libertarianism.
Marriage, once just a social institution, now implies a legal relationship, with some limitations that could be changed for greater social benefit.
Many libertarians argue that though market failures exist, private solutions still work more effectively than government intervention.
The alliance of the military technology industry and the growth of the government’s war authority has led to increasingly aggressive foreign policy.
Lawrence H. White explains the changing ways in which economists have thought about money and banking, including the debate over deregulation.
Paternalism in law-making is where the government makes decisions for individuals based on what the government thinks is best for them.
Political parties can help to inform voters and overcome collective action problems, but also institutionalize government vote-seeking and rent-seeking.
Pornography is an issue that raises questions about sexuality and feminism, but also about censorship and whether government can regulate entertainment.
When the government uses price controls to influence the affordability of products, shortages or surpluses occur - often making the problem worse.
Privacy and the government’s treatment of private information has changed with new waves of crime-detecting and information-collecting technology.
Privatization occurs when government grants control of an industry to market forces, often leading to greater efficiency and choice.
Public choice theory, now popular among academics, approaches economic and political phenomena by examining individual choices and interests.
Government regulation of the market is often argued to be a response to market failures. However, often these regulations make society worse off.
Rent-seeking occurs when actors lobby the government for regulatory legislation that assures the actor an advantage in the market.