If business owners were hoping to catch a break in 2021 after having been completely victimized by government lockdown procedures and left-wing rioting, they may want to brace themselves for more pain as the Biden administration gets going.
Hunter Hastings joins Jeff Deist with great insights into the social benefits of profit vs. interest, entrepreneurial risk, progressing and retrogressing economies, and the bunkum known as the "Paradox of Saving." They focus on Chapter 8 of Rothbard's Man, Economy, and State.
Although many claim "nobody saw this coming," some entrepreneurs planned ahead and also have found ways to cater to customers under new conditions.
Formal models of the economy, writes Murray Rothbard, tend to overlook a crucial instrument of change: entrepreneurship.
To spread the benefits of goods and services, we must first spread the mindset needed to take on the task of producing goods and services. That is, the mindset of entrepreneurship.
Some anticapitalists have tried to claim "good" entrepreneurs don't make profit the primary goal. Yet, without profit, an entrepreneur cannot serve the people who depend on him or her for goods and services.
Anti-price gouging laws mean that those who really end up getting the short end of the stick are those who don't have the time or the means to beat the crowds to the store. Worse off are those of lesser means who rely on public transportation or walking to transport groceries home.
