Gary M. Galles

Gary M. Galles is a professor of economics at Pepperdine University. His recent books include Faulty Premises, Faulty Policies (2014) and Apostle of Peace (2013).

Related Articles and Posts


How Markets Tell the Truth and Politics Tells Lies

Or, how to get more trust in society
FEBRUARY 04, 2015

Because politics is based more on what people say than on what they do, it often short-circuits the mechanisms for discovering the truth: prices, profit, and loss.


Happy Birthday, Leonard Read

SEPTEMBER 26, 2014

Read left a lucrative career to create FEE at a time when freedom's prospects in the world were bleak.


Where’s My Quid?

Exchange value is inherently unequal
SEPTEMBER 18, 2014

Viewing voluntary exchanges as involving equal values leaves people blind to the mutual benefits created by "unequal" exchanges.


#22 – "Voluntary, Market-Based Arrangements ‘Use’ People”

SEPTEMBER 12, 2014

Progressives claim that the free market treats people like commodities. In reality, it is the only economic arrangement that protects the individual.


Ends, Means, and Leonard Read

An old dictum has done a lot of damage throughout history
SEPTEMBER 10, 2014

Leonard Read reminded us that we are ends in ourselves, not to be used by reformers for political gain or utopian projects.


Compulsion Is Not Cooperation

Market competition expands cooperative arrangements among people
MAY 27, 2014

Competition in the marketplace brings people who don't know each other and otherwise wouldn't deal with each other into cooperation.


For the Love of Money?

Money at the margin, not everything for money
APRIL 11, 2014

Nobody does everything simply for the money. But criticizing markets for allowing money to mediate amounts to attacking their voluntary basis.


Word Power

Why I like “liberty” better than “freedom”
MARCH 14, 2014

While "liberty" and "freedom" can be used interchangeably, there's a subtle but important difference between what they connote.


Papal Indulgences and “Impersonal” Markets

Markets might be impersonal, but at least they don’t require coercion
MARCH 03, 2014

Some people believe the economy should reflect a particular purpose. Such a pursuit requires the coercion of some by others.


Restrict and Stimulate

A patchwork of U.S. housing policies caused a bunch of little bubbles
NOVEMBER 22, 2013

Randal O'Toole investigates the housing boom and bust, and comes up with some things you don't hear about in mainstream accounts.


Supply-Side Economics in One Lesson

What the Critics Don't Tell You
JULY 25, 2013

Critics of supply-side economics ignore long-term consequences, to say nothing of how policies affect margins of choice.


Krugman Plays Pharaoh to Capital's Exodus

MARCH 27, 2013

New York Times columnist Paul Krugman has used Cyprus's crisis to endorse controls on international capital flows, arguing that "unrestricted movement of capital is looking more and more like a failed experiment." Unfortunately, his scapegoating of investors as the problem, while offering government control as the solution, confuses cause and effect.


The Clenched Fist and the General Welfare

MARCH 20, 2013

A clenched fist is effective for coercing, restraining, and penalizing others. But it cannot create.


If You Like Wikipedia, You Should Love Markets

JANUARY 30, 2013

Wikipedia's success illustrates all the benefits of free and voluntary association that free markets provide despite government obstacles.


Unions: Freedom of Coercive Association?

JANUARY 08, 2013

Labor law allows unions to impose themselves even on workers and employers who do not want to associate with them. That's not freedom of association, it's coercion and extortion, says Gary Galles.


Economic Facts and Fallacies

JANUARY 22, 2009


Compromise, Principles, and Politics

Unity in Defense of Freedom Cannot Be Achieved When Some Intend to Violate Others' Rights
MAY 01, 2008


Misunderstanding Efficiency

Virtually Every Government Intervention Made in the Name of Efficiency Is Tainted with Logical Abuses
MARCH 01, 2008
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