In response to a suggestion that total free trade would end in cheaper foreign products flooding the market and causing unemployment.

If a country is an attractive place for foreigners to invest their funds, then that country will have a relatively high exchange rate. If it's an unattractive place, it will have a relatively low exchange rate. Those are the fundamentals that determine the exchange rate in a floating exchange rate system.

The lesson for Asia is; if you have a central bank, have a floating exchange rate; if you want to have a fixed exchange rate, abolish your central bank and adopt a currency board instead. Either extreme; a fixed exchange rate through a currency board, but no central bank, or a central bank plus truly floating exchange rates; either of those is a tenable arrangement. But a pegged exchange rate with a central bank is a recipe for trouble.

...Only physicians are likely to be regarded as competent to judge the qualifications of potential physicians, so licensing boards in the various states...are typically composed..of physicians,...members of the AMA. The boards, or the state legislatures...give the AMA the power to influence the number of persons admitted to practice (by) lengthy training,...(and) the list of 'approved' schools and hospitals (which) is generally identical with the list issued by the Council on Medical Education and Hospitals of the AMA.

Economic freedom is an essential requisite for political freedom. By enabling people to cooperate with one another without coercion or central direction, it reduces the area over which political power is exercised.

The only reason free markets have a ghost of a chance is that they are so much more efficient than any other form of organization.

Government power must be dispersed. If government is to exercise power, better in the county than in the state, better in the state than in Washington. If I do not like what my local community does, be it in sewage disposal, or zoning, or schools, I can move to another local community, and though few may take this step, the mere possibility acts as a check. If I do not like what Washington imposes, I have few alternatives in this world of jealous nations.