I’ve been watching some of the Free To Choose videos and it really is quite interesting in terms of the effects today. For example in his video on school choice the teachers say straight out that parents are unqualified to make these decisions. Now, of course, these teachers would never say something like that. Their position hasn’t changed however and we are at the same level of school choice as we were in 1980. Free Trade is another example, there were people in his discussion and debates who were pretty openly anti-trade. It was couched somewhat in fair trade rhetoric. Now it is very rare to see such rhetoric, but our trade practices haven’t significantly changed. This is possibly the best proof for free-market economics out there. Everybody (or close to it) starts out with their base incentives and then works from there. In other words economic opinion is decided by money rather than vice-versa.
Today I had one of the most pleasant ironies. Some person in Chicago had ordered the Communist Manifesto. From me, a person who performed no labor for this. In addition the book was ordered on eBay, possibly the largest market which is actually close to a free market (There is a 15% tax which eliminates most arbitrage oppurtunities). In addition Marx’s book a thin volume with little intrinsic value was able to sell for more than most other paperbacks simply because there was a demand. Nothing really novel economically about this, but it is nice to symbolically dance on Marx’s grave.