Camillo Tarello was one of the fathers of modern agriculture. Fighting the headwinds of state disapproval for his innovative farming methods, he made many agricultural discoveries, benefiting not only his fellow Italians, but future farmers around the world.
Camillo Tarello was one of the fathers of modern agriculture. Fighting the headwinds of state disapproval for his innovative farming methods, he made many agricultural discoveries, benefitting not only his fellow Italians, but future farmers around the world.
Consumer spending does not drive the economy. On the contrary, saving, investment, and entrepreneurship are the critical components of economic growth.
While Modern Portfolio Theory (MPT) is popular in academic economics and finance, it fails to properly explain profits, mistakenly confusing entrepreneurial profit seeking with risk management.
While Modern Portfolio Theory (MPT) is popular in academic economics and finance, it fails to properly explain profits, mistakenly confusing entrepreneurial profit seeking with risk management.
Contra the recent winners of the Nobel Memorial Prize in economics, free markets, private savings, and entrepreneurship not so-called innovation, is what drives a market economy.
In their 1990 paper, “A Model of Growth Through Creative Destruction,” 2025 Nobel winners Philippe Aghion and Peter Howitt attempt to formalize Joseph Schumpeter's theory of “Creative Destruction.” Their mathematical model is not creative, but it is destructive of the theory itself.
As a true market entrepreneur, as opposed to a political entrepreneur, James J. Hill successfully built a transcontinental railroad, outcompeting his government-subsidized competitors.
As a true market entrepreneur, as opposed to a political entrepreneur, James J. Hill successfully built a transcontinental railroad, outcompeting his government-subsidized competitors.
The concept of “planned obsolescence” makes no economic sense and is often an excuse for governments to harass and shake down innovative entrepreneurs. Much of so-called planned obsolescence is really entrepreneurship at work improving products for users and consumers.
