Entrepreneurship

For those new to Austrian economics, there are few modern scholars whose work I would recommend more enthusiastically than Salerno’s.

“So let us not talk falsely now, the hour is getting late.”  (Bob Dylan, All Along the Watchtower, 1967)

It's much easier to calculate the direct cost of a tax than the many indirect costs of a government regulation. Nevertheless, government regulations remain some of the biggest millstones around the neck of human progress and ingenuity.

Peter Klein discusses some new translations of his book, The Capitalist and the Entrepreneur.

There’s an interesting story in the news

Mises Daily Friday by Ryan McMaken: 

J.C. Chandor, writer and director of 2011's Wall Street drama Margin Call tackles economics once again with his new film A Most Violent Year. This time, Chandor explores barriers to entrepreneurship in a world dominated by corrupt government, labor unions, and organized crime.

J.C. Chandor, writer and director of 2011's Wall Street drama Margin Call tackles economics once again with his new film A Most Violent Year. This time, Chandor explores barriers to entrepreneurship in a world dominated by corrupt government, labor unions, and organized crime.

Legalizing recreational marijuana has begun. Marijuana for medical use is already legalized in twenty states. Marijuana is not a gateway drug as it has been viewed for almost one hundred years. Begin to be more afraid of government and current legal drugs, like prescriptions.  Legal free markets in drugs would be incredibly beneficial. Here are ten ways to imagine such a free market.

Mark Thornton comments in WND's article on recent cyber-security breaches. Thornton notes that, when breaches do occur, "Most, if not all of the time, the customer isn’t harmed; it’s the company that’s harmed. As a result, banks and retailers seek out enhanced security so criminals are less likely to be able to detect patterns.”

Unable to compete with cheap, government-subsidized services designed for the low end of the market, entrepreneurs find they must turn to higher-end customers who will pay more. Some wrongly interpret this as proof that markets are more expensive than government services.