This month marks the anniversary of the birth of F.A. Hayek, the renown economist whose writings were critical in opposing socialism and underlining the value of the free market.

By Tom Giovanetti, President of the Institute for Policy Innovation The “right” price for anything is the price that results from the interaction between supply and demand in a functioning marketplace. There’s nothing controversial about that—it’s how anyone with the most basic understanding of economics understands price. Governments often cannot resist meddling with prices. Typically, when a government intervenes in a market to...

By Ken Schoolland Federal and state politicians are eager to raise the minimum legal wage—again. They have raised the minimum legal wage many times before, but they complain that it is never enough. The last rise in the minimum wage wasn’t enough because the prices of food, clothing, and shelter keep going up faster than wages. Why do the prices of food, clothing, and shelter keep going up? Could this have something to do with the behavior...

By Stephen Zierak, Grassroot Institute of Hawaii Irresponsible management of government finances has caused Standard & Poor’s to drop its Illinois credit rating to A-.  This is not like your improvement in school that brought your C to an A-, thus making your parents pleased and proud you had finally learned something.  No, it is another step down the road towards junk bond status for one of our largest states.  S&P has ten...

By Ralph Benko Last week, the Virginia House of Delegates Rules Committee passed, by an 11 – 1 bipartisan majority, a bill to establish “a joint subcommittee to study the feasibility of a United States monetary unit based on a metallic standard, in keeping with the constitutional precepts and our nation’s founding principles….”   Such a study could prove to be a very big deal indeed. It would bring a sleeper issue, one crucial...