While some economists are lauding the idea of the “entrepreneurial state,” the reality is that such a term turns the very concept of entrepreneurship on its head. By nature, the state cannot act as an entrepreneur.
Democracy, or at least the “democracy” that ensures the “right people” are elected, is the religion of American progressives. Despite its obvious failures, however, progressives claim that democracy is the Holy Grail of governance. Why people believe this is another question.
The Perfect Market Hypothesis claims that all movements in the market can be considered as random, as market players and prices adjust immediately to new information. However, market players do seek new information and seek to use it.
As AI continues to develop, so does the hysteria that AI will soon take over and relegate us to a dystopian future. We need to realize that, like so many other tools, AI can have good and bad uses, but it cannot control itself.
Combined with good ideas, we can find new and better ways to use technology to promote liberty, free markets, and overall societal well-being.
The Perfect Market Hypothesis claims that all movements in the market can be considered as random, as market players and prices adjust immediately to new information. However, market players do seek new information and seek to use it.
As AI continues to develop, so does the hysteria that AI will soon take over and relegate us to a dystopian future. We need to realize that, like so many other tools, AI can have good and bad uses, but it cannot control itself.
Cantillon is probably the smartest, most mysterious, wealthiest, and most socially-relevant person in the history of the world that no one has ever heard of.
Antitrust regulators claim that antitrust law and enforcement is necessary to preserve competition and foster economic innovation. In truth, antitrust law is anti-innovation and anti-competition.
Economic mythology said governments must regulate markets to prevent monopolies. In reality, it is the government regulation itself that creates monopolies, which do not emerge in free markets.
