Throughout most of modern history, economic sanctions have preceded or accompanied war, often in the form of a naval blockade intended to weaken the enemy. Only when the horrors of World War I prompted President Woodrow Wilson to call for an alternative to armed conflict were economic sanctions seriously considered. (Wilson claimed that, by themselves, […]| Econlib
Many people believe that only government intervention prevents rampant discrimination in the private sector. Economic theory predicts the opposite: market mechanisms impose inescapable penalties on profits whenever for-profit enterprises discriminate against individuals on any basis other than productivity. Though bigoted managers may hold sway for a time, in the long run the profit penalty makes […]| Econlib
