Caleb Fuller

The great economist Armen Alchian once observed, “Fortunately, societies have progressed despite almost universal ignorance of economic principles.” True.

While it’s easy to fixate on the handful of success stories, the litany of government innovation failures should be enough to sober up even the most enthusiastic proponent of state-backed entrepreneurship.

Eugenicist Progressives introduced the minimum wage, because it was well suited to perform the Progressives’ dirty work of discriminating against (what they considered) the least productive by making them unemployable.