If the government has the power and responsibility to promote equality of income, then how do we define the concept of equality? Jefferson, in his Declaration of Independence, meant equality before...

The welfare state is an attempt to “do good” with someone else’s money. The aim may be worthy but the means are faulty. The problem is that you do not spend someone else’s money as carefully...

Armen Alchian, Professor of Economics, UCLA continues to engage Nobel Prize-winning economist Friedrich von Hayek, PhD Economics in reminiscences that provide a uniquely personal and entertaining...