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Economy

Economy
January 23, 2017
How to Dismantle ‘Social Justice’
The prevailing political discourse seems to be consumed with the bromides of social justice, carefully tended by political and intellectual classes claiming special knowledge of its demands.
Government Spending
January 23, 2017
Trump Advisors, Officials Fill Potholes in Government Infrastructure Initiative
President Donald Trump and federal lawmakers are working on filling in details of a proposed $1 trillion federal initiative to build and repair roads, using taxpayer-funded debt financing, public-private partnerships, and direct taxpayer funding.
Taxes
January 22, 2017
Trump ‘Big Border Tax’ Talk Stirs Up U.S. Businesses
Taking to social media to express his displeasure with an April 2015 siting decision by a multinational automobile manufacturing company, then-President-elect Donald Trump threatened to make the company “pay [a] big border tax.”
More News
Government Spending
January 22, 2017
Missouri Governor Opposes Sports Stadium Subsidies, Tax Credits
Characterizing a proposed financing deal for a St. Louis soccer stadium as “welfare for millionaires,” Missouri’s new governor ruled out in January the possibility of using taxpayers’ money or tax credits to entice stadium developers to Missouri.
Economy
January 21, 2017
Right-to-Work Bill Proposed in New Hampshire
New Hampshire legislators are considering a bill that would allow workers to opt out of union membership, freeing them from being forced to join a union as a condition of employment.
Regulation
January 20, 2017
Dodd-Frank: All Of It Is Awful – So All Of It Needs To Go
For decades and decades in Washington, D.C., members of both political Parties have time and again thrown at us the Groucho Marx quote: “Who are you going to believe, me or your lying eyes?”
 

The Issue

The core mission of The Heartland Institute is to discover, develop, and promote free-market solutions to social and economic problems. But what is the free market, and how does a free market promote a more vibrant economy?

The free market, simply put is an economic system where the prices for goods and services are determined by interactions within the open market by consumers and the forces of supply and demand free of external control or manipulation.

The free market promotes cooperation through rational self-interest, an idea that Adam Smith referred to as the “invisible hand,” giving every person the opportunity to improve their own lives. Milton Friedman, one of the great economic minds of the 20th century argued “The great virtue of a free market system is that it does not care what color people are; it does not care what their religion is; it only cares whether they can produce something you want to buy. It is the most effective system we have discovered to enable people who hate one another to deal with one another and help one another.”

A free and open economy is essential to a free society. “The peaceful market competition of producers and suppliers is a profoundly cooperative process in which everyone benefits and where everyone’s living standard flourishes (compared with what it would be in an unfree society),” wrote economist Murray Rothbard in The Concise Encyclopedia of Economics.

The opposite of a free market economy is one dominated by government control, subsidies and regulations. Rothbard once correctly observed in his book Man, Economy, and State that government regulations and subsidies “promote inefficiency in production and efficiency in coercion and subservience, while penalizing efficiency in production and inefficiency in predation.”

While no true free market exists today, the principles of open competition, low taxation and limited government interference in the open market serve as the bedrock of the American economy. The United States has embraced these principles and has not only seen unprecedented growth in our economy, but widespread prosperity and peace.

Our Stance

The Heartland Institute favors public policies that reduce the size and power of government and expand choice and freedom for citizens. We oppose government programs, regulations and tax regimes that favor some at the expense of others.

Featured Subtopics

Man peering into closed door meeting
Public officials try to pick winners and avoid losers, but experience shows they seldom succeed. It is far better to leave money in taxpayers’ hands than to give it to a few politically chosen individuals and businesses in the forlorn hope they will make the best investment decisions. Lower tax rates benefit the economy as a whole.
Scales showing wealthy person and many people
Increasing taxes on the “rich” is not the way to reduce inequality. Such taxes only make it more difficult for middle-class people to earn their way to upper-income status, thereby preserving the privileged status of the rich.
Man hailing a taxicab
The rise of the peer-to-peer sharing economy has dramatically changed multiple industries ranging from Uber and Lyft for transportation to Airbnb for hotels. New technologies have empowered both the entrepreneur and consumer to undertake new business arrangements which avoid the regulations and high startup costs of traditional businesses.

Additional Subtopics

  • Economic Development: Cities
  • Economic Development: Federal
  • Economic Development: States
  • Economic Theory
  • Economic Trends
  • Entrepreneurship
  • Globalization
  • Green Jobs
  • Infrastructure
  • Trade

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Title: Jeffrey Tucker -The Nature and Trajectory of History is that it Never Stops Surprising Us
Description: Jeffrey Tucker is the Chief Liberty Officer and founder of Liberty.me, the global liberty community with advanced social and publishing features. He is Director of Digital Development for the Foundation for Economic Education, executive editor of Laissez-Faire Books, research fellow at the Acton Institute, policy advisor of the Heartland Institute, founder of the Crypto Currency Conference, member of the editorial board of the Molinari Review, an advisor to the blockchain application builder Factom, and author of five books.

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