Entrepreneurs need very specific information about their products, markets, customers, and profits. Government macroeconomic data, however, does nothing to assist entrepreneurs to obtain this important information, but only helps justify economic intervention.
With European powers broke and economically ailing by 1916, World War One would have ended much sooner had the Federal Reserve and its cronies not stepped in to help England and France keep the bloodshed going. Meanwhile, US economic intervention led to a huge post-war bust in America.
The modern health insurance industry, a by-product of government regulation and tax policy, has led to a system in which the consumer of medical services doesn’t know the costs or final prices charged for services. Without a functioning system of price signals, prices cannot be contained.
The trucking industry has historically offered many opportunities for small-scale owner-operators and laborers alike. Government management of the industry, however, from environmental regulations to labor guidelines, have cut deep into trucker productivity, all the while raising prices for both...
One of the most common ways in which cronyism manifests itself in Serbia is when professional degrees and employment positions are awarded based on political party membership , and not on the basis of professional expertise.