The open protocols on the internet would seem to create chaos, but it turns out that they produce the opposite results, encouraging a digital spontaneous order.
While supporters of the Biden administration fault Putin for shortages, Austrian economists know the answer lies in Washington's monetary and economic mismanagement.
Jordan Peterson is turning his eye toward Austrian economics. Unlike the many conservatives who see free market advocacy as some sort of "dangerous fundamentalism," Peterson seems to get it.
Centrally planned economies often stick with terrible ideas for many years. But markets can take bad products, learn from them, and turn them into great products that give the public what it wants and needs.
Suddenly the champions of stakeholder theory, like the predictably despicable Washington Post, find themselves singing a new tune about vulture capitalists, deciding that hedge fund short sellers are now the good guys.
The open protocols on the internet would seem to create chaos, but it turns out that they produce the opposite results, encouraging a digital spontaneous order.
Jordan Peterson is turning his eye toward Austrian economics. Unlike the many conservatives who see free market advocacy as some sort of "dangerous fundamentalism," Peterson seems to get it.
There are only two ways to organize production in a complex modern economy: by centralized decision-making or through the free market. Only one of these alternatives is a real option.
