Government meddling with markets is costly: Why competition is good and regulation bad

When I travel in Finland (my native country), comparisons of Finland and Canada often come up in conversations. On the first glance, one would...

What counts as progress and what makes it possible?

At the end of the year, the media is teeming with reviews of the past 12 months. With their focus on the positive, compilations...

Why finance is moral

I have just finished reading recently published In pursuit of wealth: The moral case for finance, edited by Yaron Brook and Don Watkins. It...

How mistaken moral views explain bad economics

Morality poses the question: For what purpose should I live and how? Economics studies how to organize production and trade of goods and services...

Beneficiaries vs. “victims” of capitalism?

I recently did an interesting tour of the Carrie Furnaces, a national historic site of a former iron mill near Pittsburgh. Our guide who,...

Profit maximization is moral!

In the last class of my MBA business ethics course, a student commented that while he agreed that businesses must pursue profits to survive,...

The folly of corporate income taxation: Failure to integrate knowledge

Elizabeth Warren and her fellow leftists love corporate taxation because they see it as a means of income redistribution from wealthy investors to workers,...

Another fallacy about capitalism: Coercive monopolies

I recently attended a talk about innovation by a well-known former CEO of a successful Canadian company. His remarks were mostly sensible at first:...

Why do we fear capitalism?

My MBA students have been discussing alternative social systems as context of business in my business ethics class. While most see the value of...

Anti-development is anti-life

Canada’s Financial Post (FP) is running a week-long series entitled “Arrested Development” which investigates how “Canada has turned into a can’t-do nation as surging...

The oil and gas unemployment crisis and how to fix it

According to estimates, there are 100,000 unemployed oil and gas workers in Alberta, most of them highly trained professionals in my home town Calgary....

Government regulation of business: Protection or harm?

Those advocating a strong regulatory state view government regulations as necessary to protect us against businesses that in their pursuit of profits, in the...