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Posts tagged as “Free markets”

How government insurance destroyed New Orleans

In the September 3, 2005 New York Times, columnist John Tierney educates us on the difference between private insurance and government insurance. Currently, the flood insurance that's available through the federal government, because the premiums are so low, doesn't fully reflect the costs of assuming that risk. And even as cheap as the flood insurance rates are, not many people bought it.

Employer-paid health insurance

A Harvard study (Illness And Injury As Contributors To Bankruptcy) concluded that of families that declared bankruptcy, about half cited medical bills as the reason. Of those, 76% had medical insurance at the time they became sick. Some of the problem is that when people become seriously ill, they can't work. After they lose their job they have no income, and they can't pay the premium to continue their existing coverage.

Prices ration scarce goods

As the price for gasoline rises, politicians hear increased calls for regulation of gas prices. We hear news stories of hotels increasing prices for victims of hurricane Katrina, and prices for needed goods in the destructed area could rise, too.

How to decide arts funding

In an editorial in The Wichita Eagle on August 9, 2005, Randy Schofield wrote, explaining why government should support culture: "Because cultural amenities make Wichita a more desirable place to live, work and visit, and thus help realize Wichita's quality of life and economic development goals." We might examine some of the ideas and reasoning behind this statement.

Let profits save (or sink) Exploration Place

Government leaders and newspaper editorial writers tell us that we cannot afford to lose such a wonderful place. But if it's so wonderful, why won't its customers pay what it really costs?

The Mississippi beef plant has a lesson for us

Jackson, Mississippi has a lively talk radio station, WJNT, featuring both local shows and national shows. The hot topic of discussion on my trip to this city was what to do with the MCI settlement money, as the state had just negotiated a settlement with MCI of $100 million, for taxes MCI owed.

I, Pencil

Do you think there exists a single person who knows how to make a lead pencil? In this article, Mr. Read shows us how there is no one who knows even a small fraction of what is necessary to produce even this simple, everyday item.

How, then, does a lead pencil come to be manufactured? Through the uncoordinated actions of many people, each exchanging their own small amount of knowledge for something else they want.

The miracle and morality of the market

In this short article we learn the simple mechanism that makes our economy work so well. Interference with that mechanism is not only harmful, it is immoral.

AirTran Subsidy Remarks

Following are remarks I am delivering to several groups, including the Wichita City Council, in April 2005.

Why government spending is (mostly) bad

Government spending replaces the judgment of the market with the judgment of politicians. The judgment of the market refers to the billions of decisions that we collectively make each day, decisions that we freely make, that we believe will advance our self-interest. That is to say, the market is characterized by mutual agreement and voluntary consent.

Let free markets determine downtown Wichita’s viability

If you listen to local Wichita news media, our local politicians, and various community advocates, the desirability of downtown development over other development is accepted as a given. But what people actually do with their own money is different.

Open letter to Wichita City Council regarding AirTran subsidy

I am writing to express my concern about the upcoming renewal of the subsidy being paid to AirTran Airways. You may recall that I appeared before the Council last May and spoke in opposition to the subsidy. Since then I have learned more about the Fair Fares program.

Let free markets, not laws, regulate smoking

Today, in the town of Hutchinson, Kansas, an indoor smoking ban takes effect. I hope Wichita does not pass the same law. I believe the evidence that shows smoking is tremendously harmful to the health of the smoker, and also dangerous to those around the smoker. Personally, I don't care to be around smokers and I take measures to avoid places where I will be exposed to cigarette smoke. So shouldn't I favor a smoking ban in Wichita?

Remarks to City Council, May 11, 2004, Regarding AirTran Airways Subsidy

I delivered these remarks to the Wichita City Council as they were preparing to vote on extending AirTran Airway's subsidy for another two years. The extension passed with only one dissenting vote.

Mr. Mayor, Members of the Council:

I speak today in opposition to the continuation of the subsidy the City is paying to AirTran Airways.

There are several reasons why I believe this subsidy should not be continued. The primary reason is that the subsidy, since it is paid to one company and one company only, is not fair to the other companies. Yes, it is true that fares are lower. But is that a legitimate reason to enrich one company at the expense of others?

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