The classical argument in favor of free immigration runs as follows. Other things being equal, businesses go to low-wage areas, and labor moves to high-wage areas, thus effecting a tendency toward the equalization of wage rates (for the same kind of labor) as well as the optimal localization of capital. An influx of migrants into...
With the collapse of communism all across Eastern Europe, secessionist movements are mushrooming. There are now more than a dozen independent states on the territory of the former Soviet Union, and many of its more than 100 different ethnic, religious, and linguistic groups are striving to gain independence. Yugoslavia has dissolved into various national components....
Eastern Europe’s recent “experiment” with socialism illustrates some useful principles about slavery. Slave labor is generally recognized as less productive than free labor, and with the collapse of the Soviet Empire it has become obvious that collective property (socialism) is less productive than private property (capitalism). From these premises several conclusions follow: not only that...