Production functions aren't given. They have to be discovered. This is what entrepreneurship is about; the superiority of Austrian over neoclassical economics lies in seeing this fact.
On The Washington Post, John McQuaid has determined that the United States is now the can't-do nation. He starts by mentioning the recent bridge collapse in Minneapolis and...
Since we know the monstrosities associated with government buildings, monuments, and state-built cars, surely then, we can imagine a Europe with a nationalized wine industry. Don't laugh; the European Union's top agricultural official...
"180 Trillion Leisure Hours Lost To Work Last Year," says The Onion. The article actually presents some fundamental problems of scarcity in rather interesting ways. Why do we only think in terms of work-hours...
Over the weekend I watched "Flags of our Fathers" and one quote stuck out (among others). It comes from a Treasury Department official (Bud Gerber) who is trying to convince the flag raisers of Iwo Jima to use their celebrity...
You know, socialist governments are just so sweet. They pay people to take vacations, and surely no one can complain about that! And just look at the US in this chart: not a single paid vacation day is...
Most of my academic colleagues are anti-American food snobs. Why, those poor Yanks, they think Parmesan cheese is a white, powdery stuff in plastic cylinders rather...
