What are the implications for economics of recognizing entrepreneurship? They are vast. Modern/mainstream economics is, to a great extent, the outcome of expunging the entrepreneur and forcing an entrepreneurless, mechanistic view onto the economy. This facilitates the use of mathematical analysis and quantitative predictions, but these will always be wrong to the extent that there is entrepreneurship. In a sense, mainstream economics is the science of a planned or plannable economy. And the basic models even assume that there is perfect information.

Generation Z is turning to wagering markets in search of ROI.

After September 11th, Rudy Giuliani was America’s mayor. He even won Time Magazine’s Person of the Year for his leadership in the wake of the attacks. Today, he may be Mujahadeen-e-Khalq’s (MEK) Mayor.

After closing at 4.26 percent in January this year the yield on the 10-year US Treasury Bond settled at 4.70 percent at the end of August.

After Lexington and Concord, Congress had a war on their hands and needed a way to finance it. The Americans were in large measure tax rebels, so taxation of their own would have to wait. After giving some thought to borrowing, Congress decided instead to call upon their old friend, the printing press.

The colonists had a long history with paper money. They had been inflating since the 1690s and had all but driven silver specie out of circulation. In 1751, Parliament banned further note issues in New England, and by 1764 extended the prohibition to the rest of the colonies.