Tyler Turman

Tyler Turman is an Emerging Leaders Program fellow with the Acton Institute for the Study of Religion and Liberty and

Why Recessions Are Not about Declining GDP

Most economic commentators consider a decline in economic statistics, such as gross domestic product (GDP), as indicative of a decline in the health of the economy. According to most experts, this decline in the GDP—which is called a recession—as a rule, arises because of an overall decline in the aggregate demand for goods and services. This is seen predominantly as a decline in the private sector’s buying of goods and services.

The Entrepreneur and the Summer Blockbuster

Creating a hit movie series, television show, or video game is a phenomenon that not only strikes without warning, but can also strike in unexpected places—or fail to strike where it is intended. The creators of these works—despite Mises’s general disdain for what we now call popular or mass culture—can and often do fit his mold of the creative genius:

For the pioneering genius to create is the essence of life. To live means for him to create.