space flight—Murray Rothbard (1926–95) argues that socially beneficial scientific innovation comes from independent thinkers working within the market economy, while insufficient for modern technological needs. The general principles of government policy in this field we have already set forth: (a) leaving the general allocation of
and the City of London. The United States is not in the forefront of insurance innovation. Why is the United States innovative in so many industries but not home to of pricing regulation in the United Kingdom resulted in a large number of pricing innovations being developed and tested there. A good example is the so-called GLM of their choice, independent insurance brokers provide dozens of different policy wordings tailored to specific market segments. This means more choice for the
hit me as I read the New York Times report “Across Europe, Irking Drivers is Urban Policy.” Yes, that’s right: policies are not trying to make driving easier and less that if government didn’t own the streets and so heavily regulate transportation innovation, we might already have flying cars by now. The claim can’t be proven or
law has consistently fallen on those companies who excel at lowering prices, innovating their products, and expanding their customer base.” On September 21, 2011, CEOs alike at a hearing of the Senate Judiciary Committee’s Antitrust, Competition Policy, and Consumer Rights Subcommittee. According to Nextag (who?) CEO Jeffrey is not guaranteed. Competitors will arise, which in turn will incentivize further innovation. As Jeffery Tucker recently pointed out , Google is now entering the
a severe drought, and the local government has instituted water-rationing policies. Each household is permitted to use only a certain low amount of water each of Arlen, randomly checking meters and cracking down on those who defy the policy. Rationing is a very typical measure imposed by central planners ignorant of would be awarded with the highest profits. This profit motive would make new innovations in water distribution much more likely. One entrepreneur might buy the
Let us further imagine that not everyone in the 15th century is happy about this innovation. Unable to match the benefits of the printing press, the producers of “Sires,” they cry, “you must stop the predatory pricing and scorched-earth policies of the Gutenberg press. It’s wiping out the competition. How can this be in
we are poorer, we have fewer resources to invest in education, health care, and innovation. Also, higher tire prices means that some people will drive on worn-out real and very important. By embracing protectionism, President Obama has adopted a policy that works against his supposed concern for Americans’ well-being by reducing
of new media, yet because newspapers and television journalism have failed to innovate and keep up we must subsidize them, because their reporting is (was) better. by government. Further, he suggests, we need, as an instrument of foreign policy, to compete with China’s CCTV and Xinhua News, and Qatar’s Al Jazeera . If the a dangerous man. I think I serve a valuable service by giving my readers a fresh, innovative view of the economy. Don’t I deserve a subsidy, Professor Bollinger? Who
across the political spectrum are fretting about the need for a national energy policy, wringing their hands about the apparent un-American-ness of our dependence on our activities and behavior. We use less of some things and more of others, and we innovate. In more concrete terms, we drive less and walk more, and we invest in a solar iPod charger as part of a year-end project this past semester. The list of innovative responses to high gas prices goes on and on. Some of these ideas will work
D. Solomon: The Privatization of Space Exploration: Business, Technology, Law, and Policy . New Brunswick, NJ: Transaction Publishers, 2008, ISBN: 978-1-4128-0759-3, exploration and technological development. Solomon seems to favor prize-motivated innovation, and mentions some of the history of privately funded prizes. NASA’s
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.