Production Theory

This morning’s New York Times business page reports

Perkins called his job that of an economic hit man — the person who makes the initial case for the infrastructure development with such optimistic (and purposely misleading) biases that they become deals that cannot be refused.

So — even if the current cycle is about to turn — it will surely complete the revolution and move upwards once again and possibly faster than we might expect, thanks to the benign self-interest of the millions of new Asian and East European entrants into our complex, highly interconnected, global economy.

Rockefeller, Carnegie, Dow, Hill, and other great American businessmen did more for America than all the big-government programs combined. These men were market entrepreneurs, not political ones.

With few exceptions, American unions have long been at the forefront of anti-capitalist ideology and have supported virtually all the destructive tax and regulatory policies that have been so poisonous to American capitalism.

In the eyes of the parties who style themselves progressive and leftist the main vice of capitalism is the inequality of incomes and wealth.

We libertarians ought to convince everyone else of why it would be better to live in a society without a federal government.

People who favor having federal goons arrest undocumented workers and send them home imagine that this is a great thing for American culture and so

Ever wonder where Tang and Teflon came from?

Recorded at Mises University 2006.