Owners are not only prohibited from producing the wine of their choice but also from deciding the volume they produce, the price at which they can sell their products, the way they store and vinify according to protocols, and the list goes on.
Any political figure, celebrity, professor, social or climate activist, or anyone else who calls for elimination or inhibition of this system—and the spillovers it brings—cannot claim that he or she is a friend to civilized society.
The greatest tension arises when migrants become dependent on any form of state funding.
In finance, memories are short. The mortgage industry makes out with 50-year paper, the consumer, not so much.
A refrain in the television series Foundation is that individuals and individual actions do not matter, but this is even disavowed as the story is told.
A student asked why the exchange rate notations that Hülsmann uses class are different from what he found in the financial press.
The issue is conceptual: whether a currency can cease to function as money when its demand collapses, irrespective of whether its quantity increases, remains constant, or even decreases.
Politicians of both parties ignore the real cause of price inflation: the Federal Reserve.
Billy Joel memorialized the workers of the steel industry in his 1982 song “Allentown.” While popular culture seems to dwell on tragedy, the creative-destruction of the market process also involves progress.
