Richard M. Ebeling: Capitalism and asymmetric information

  Capitalism is a wondrous human institution for the mutual betterment for all in society. Yet, critics often insist that market systems enable sellers to take advantage of buyers because those on the demand-side often lack the specialized knowledge that suppliers possess, thus, enabling a possible exaggerated misrepresentation of what is being offered for sale. What is missed is that market competition generates the incentives and opportunities to earn profits precisely by not misinforming or cheating the buyer.

Jacob G. Hornberger: A basic principle about capital

  Imagine a farm in an impoverished country, a farm where the workers are using hoes to do their work in the fields. The farm produces 1000 bushels of wheat a year, which is sold for $10,000. The farmer’s income statement reads as follows:

Jacob G. Hornberger: The coming economic fascism

  The recent efforts by President-elect Donald Trump and Vice-President-elect Mike Pence against Carrier Corp. provide us with a signpost of the economic fascism that lies ahead after both men take office. Whatever might be said about economic fascism, one thing is for sure: it is contrary to the principles of economic liberty, private property, the free market, and the rule of law.

  Targeting Carrier for daring to move some of its operations to Mexico, Pence, as governor of Indiana, offered the company a package of tax incentives to induce the company to keep some of its operations in Indiana. At the same time, Trump announced that as president he will punish any American company that moved abroad with the imposition of a high tariff on any goods it wished to ship into the United States.

Stephen Moore: Using tax dollars to lobby for more tax dollars

  Here's a half-serious question: How much do taxpayers have to pay off Boeing to make the Export-Import Bank finally and irrevocably go away? If the feds wrote a check to Boeing for $100 million, would they then let the Ex-Im Bank fade away after the current portfolio winds down?

  I ask this because the aerospace giant is the largest beneficiary of the Ex-Im Bank. The bank provides subsidized loans and insurance contracts to foreign companies that buy American exports. Ex-Im Bank doles out billions of dollars of loans and insurance subsidies every year and has become the poster child for corporate cronyism in Washington.

Richard M. Ebeling: Americans see big corruption in big business

  A recently released report on the degree of confidence that Americans have in the country’s leading political and economic institutions shows that few of these institutions are held in high regard by the public.

  The survey was conducted by NORC, a respected research organization at the University of Chicago. It was found that only 11 percent of those asked expressed significant confidence in the institution of the presidency of the United States. About 23 percent of the citizenry expressed positive confidence in the Supreme Court. But, seemingly, no one has confidence in the United States Congress. Only seven percent of Democrats and five percent of Republicans expressed any great deal of confidence in the legislative branch of the federal government.

Paul Larkin: Co-opting the criminal justice system for anti-competitive purposes

  Most people assume that legislatures pass criminal laws to benefit the public, and most of the time, they are right. Statutes outlawing murder, rape, robbery, and the like protect all of us against a small number of ruffians who would do us harm.

  But not every statute has that goal. Some protect favored sons and daughters at the expense of the public. When that happens, everyone — except certain cronies — loses.

Brandon Demyan: Big government’s Uber problem

  As Birmingham continues its evolution to become a modern and relevant city, recent ordinances designed to make it difficult for food trucks, Uber, and other innovative businesses to operate are putting that vision in reverse.

  What is Uber?

Jacob G. Hornberger: Why do conservatives support Medicare and Medicaid?

  For the life of me, I just don’t get conservatives. They profess to love free enterprise and free markets and they say they hate socialism.

  Okay, then why do they never call for the repeal of Medicare and Medicaid?

Sheldon Richman: What the immigration bill overlooks

  In passing the monstrosity known as immigration “reform,” the Senate overlooked a few things of importance. This is unsurprising. A bill on immigration that is backed by leading Republicans and Democrats, big business, and government-co-opted unions is bound to have missed some things.

  The bill, whose fate in the House is uncertain, would appropriate $40 billion over the next decade to “secure the border.” This would entail hiring 20,000 more border patrol agents and building 700 more miles of fence along the U.S.-Mexican border. The spending would include $4.5 billion on technology for surveillance. As the Washington Post reported, “The border security plan … includes unusual language mandating the purchase of specific models of helicopters and radar equipment for deployment along the U.S.-Mexican border, providing a potential windfall worth tens of millions of dollars to top defense contractors.”

Sheldon Richman: An Echo, not a choice

  With Mitt Romney’s sweep of Tuesday’s primaries, he will almost certainly be President Barack Obama’s Republican opponent in November. Romney has vowed to make the economy the chief issue against Obama, and he is sure to portray the president as an enemy of free enterprise in order to draw a contrast with himself. How fit is Romney’s claim to be a champion of economic freedom?

  The former Massachusetts governor and private-equity capitalist speaks often about free enterprise and the need for government to let entrepreneurship pull the economy out of its current doldrums. This sort of rhetoric is common for Republicans, who then proceed to violate economic freedom.