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Lawrence W. Reed

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What Price Control Really Means →

April 1, 1978

Two centuries after Adam Smith penned his eloquent defense of the right to be free from coercion, coercion is again in the ascendancy. It is seen by many as the “quick fix,” the answer to chronic problems, a panacea that will bring order out of chaos. In 1795, James Madison described this phenomenon as “the old trick of turning every contingency into a resource for accumulating force in government.”

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Recent “Best of Web”

Featured
Obama Library Disenfrancises Millions of Blacks by Requiring Voter ID
June 22, 2026
Obama Library Disenfrancises Millions of Blacks by Requiring Voter ID
June 22, 2026

Civil rights activists in Chicago have warned that the photo ID requirement at the Obama Library could directly kill thousands of black people — Babylon Bee.

June 22, 2026
Gore's Scam
June 20, 2026
Gore's Scam
June 20, 2026

Referring to the lies in his cartoonish fiction film, Gore says “It may not have been true in any way, but I sure enjoyed it. After all, I am now very, very rich" — Babylon Bee.

June 20, 2026
Democrats Demand Reparations from African American
June 15, 2026
Democrats Demand Reparations from African American
June 15, 2026

Prominent Democratic Party leaders in Washington, D.C., took to the airwaves this week, calling for immediate reparations to be paid to make amends for the repeated success of African American Elon Musk — Babylon Bee.

June 15, 2026

Recent Quotes

Featured
Murphy on America
February 11, 2025
Murphy on America
February 11, 2025

“The true meaning of America, you ask? It’s in a Texas rodeo, in a policeman’s badge, in the sound of laughing children, in a political rally, in a newspaper. ... In all these things, and many more, you’ll find America. In all these things, you’ll find freedom. And freedom is what America means to the world. And to me” — Actor, poet, and the most decorated American of World War II, Audie Murphy.

February 11, 2025
Mill on Freedom
February 1, 2025
Mill on Freedom
February 1, 2025

“The only freedom which deserves the name is that of pursuing our own good in our own way, so long as we do not attempt to deprive others of theirs, or impede their efforts to obtain it. Each is the proper guardian of his own health, whether bodily, or mental and spiritual. Mankind are greater gainers by suffering each other to live as seems good to themselves than by compelling each to live as seems good to the rest.”

February 1, 2025
Best-Selling Japanese Novelist Eiji Yoshikawa on Do-Gooders
March 20, 2023
Best-Selling Japanese Novelist Eiji Yoshikawa on Do-Gooders
March 20, 2023

“There’s nothing more frightening than a half-baked do-gooder who knows nothing of the world but takes it upon himself to tell the world what’s good for it — from his book, Musashi.

March 20, 2023

Recent Blogs

Featured
The Central Banker Who Defied Hitler
June 22, 2026
The Central Banker Who Defied Hitler
June 22, 2026

Generally speaking, central banks get excessive credit for the good times and insufficient blame for the bad times. But you could certainly do worse than Hans Luther.

June 22, 2026
Animated Video: "I, Smartphone"
June 18, 2026
Animated Video: "I, Smartphone"
June 18, 2026

Narrated by Naomi Brockwell, this new video tells the story of my recent essay, “I, Smartphone: Far Smarter Than You Ever Imagined.” Print version of the essay: https://www.amazon.com/dp/B0GP9MG18K

June 18, 2026
The Founders' Reading List: The Curriculum Behind the Constitution
June 18, 2026
The Founders' Reading List: The Curriculum Behind the Constitution
June 18, 2026

In the first review of my forthcoming book, Born of Ideas: How Principles, Faith and Courage Forged America, Surse Pierpoint writes, “Chapter by chapter, Reed, an economist and President Emeritus at the Foundation for Economic Education, shows the same pattern: precedent accumulates, someone reads it carefully, and an institution gets built.” The book is available for pre-order now on Amazon.

June 18, 2026