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Articles and columns written exclusively for Econlib. Updated monthly. 
Are "exhaustible" resources like oil really exhaustible? It seems obvious that they are. But the evidence of the 20th century decidedly goes the other way. The late economist Julian Simon made this point. This month's author, Robert Bradley, notes that Erich Zimmermann had had the same insight decades earlier. All three point to the fact that one thing that is nowhere near exhaustion is human ingenuity, and human ingenuity will lead to further discoveries and production of "exhaustible" resources, with no end in sight. But for ingenuity to function, people must have a good deal of economic freedom and must have their property rights respected. READ MORE
"Marxists and most Frenchmen hold that since all value is produced by labour, all of it should be paid out in wages except the part taken by the state, a body which by rights ought to belong to the workers anyway. All private profit is stolen from the working class. It is incumbent on the state to claw it back from the capitalists." READ MORE
The cuneiform inscription in the Liberty Fund logo is the earliest-known written appearance of the word "freedom" (amagi), or "liberty." It is taken from a clay document written about 2300 B.C. in the Sumerian city-state of Lagash.