After astounding achievements like performing seemingly-crazy and impossible feats of rocket engineering, making satellite internet service practical, rescuing social media from covert government censorship, and even managing to build battery-powered vehicles that are rather more useful and cool than golf carts, Musk slipped up and committed a colossal blunder recently.
In the science of human action, the effects of erroneous notions of the market process, most particularly as they pertain to policy-making decisions, are not to be underestimated. The economist can not remain indifferent to these in an era in which the appeals of interventionism and government expansion increasingly hold sway in the domain of public policy.
Each year at this time, schoolchildren all over America are taught the official Thanksgiving story, and newspapers, radio, TV, and magazines devote vast amounts of time and space to it. It is all very colorful and fascinating.
It is also very deceiving. This official story is nothing like what really happened. It is a fairy tale, a whitewashed and sanitized collection of half-truths which divert attention away from Thanksgiving’s real meaning.
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The latest boogeyman conjured up by the Biden administration is ghost guns.
In his September 26 executive order on “Combating Emerging Firearms Threats and Improving School-Based Active-Shooter Drills,” President Biden mentioned these ominous “ghost guns”:
The concept of the entrepreneurial state proposes that governments—like private enterprises—can take risks, innovate, and drive economic growth. Through direct intervention, governments can strategically invest in sectors that hold promise for the future, aiming to spark productivity and economic expansion. However, in countries like Jamaica, the limitations of the entrepreneurial state are evident, as interventions often face economic realities and public sentiment that clash with the expectations of the private sector.
“He really wouldn’t think he has built that gun, would he?”—Chief Justice John Roberts
