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Profit is a product of the mind, of success in anticipating the future state of the market. It is a spiritual and intellectual phenomenon.
Booms and BustsThe FedMoney and BankingPrices
It turns out that the Japanese people do not have the Apoplithorismosphobia that their government officials have.
The FedMoney and BanksGold StandardPrices
The Federal Reserve and in particular fiat money ruins the incentive to save for a better future.
Floridians could end up facing unnecessary hardship, because its state government does not understand basic economics.
The problem with the Excel spreadsheet approach is not the intentions of policymakers, but that such tools cannot possibly replace the market process.
Many of Venezuela's woes stem from the Venezuelan state's reliance on price controls to enact its socialist goals. Famine has resulted.
Global EconomyCalculation and KnowledgePrices
In the UK, a national minimum wage was introduced in 1999. Things have been getting worse for young workers ever since.
The EntrepreneurFree MarketsHistory of the Austrian School of EconomicsPrices
An "I voted" sticker is no substitute for a simple receipt.
Rising income inequality and concentration of resources into fewer large firms are not a problem for marginal-pricing theory.
Taxes and SpendingPolitical TheoryPricesValue and Exchange
The way that government collects taxes is awful. The process of spending it is even worse.