Like bad money driving out good money, government intervention can also create Gresham’s law conditions for entrepreneurs. Using the political process, bad entrepreneurs can get government to regulate entrepreneurial competition out of business.
As AI continues to develop, the prophets of doom claim that it will “take over” and create a dystopian society. Far from being an “existential threat,” AI is a tool that can be used for good or ill.
The ruling classes insist that a country with a democratic government is also a free country. However, democracies also can be tyrannical and despotic. After all, in the final analysis, a democracy is two wolves and a sheep voting on what's for dinner.
As if the government has not done enough destruction in the housing market, there now is a scheme to have the government nationalize second mortgages. Given the previous disaster with primary mortgages, we do not anxiously await the outcome of this proposal.
President Biden’s student loan forgiveness scheme is really Robin Hood in reverse, transferring wealth from people from lower-income groups to those who are relatively affluent.
In its attempt to claim that the concept of free trade is full of fallacies, The American Compass builds its anti-free trade case upon fallacies.
Commercial real estate in the USA is facing a major crisis which could not have been possible without the enabling of the Fed and the draconian restrictions imposed during covid. As commercial real estate prices collapse, the usual suspects call for even more bailouts.
As AI continues to develop, the prophets of doom claim that it will “take over” and create a dystopian society. Far from being an “existential threat,” AI is a tool that can be used for good or ill.
Like bad money driving out good money, government intervention can also create Gresham’s law conditions for entrepreneurs. Using the political process, bad entrepreneurs can get government to regulate entrepreneurial competition out of business.
Contra Keynesians, who believe that government spending and bureaucracy are the keys to economic growth, it is the bureaucratic state that swallows resources and stifles entrepreneurs. The more powerful the bureaucracy, the lower the standard of living.
