The Entrepreneur

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.

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.

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.

Even though our legal authorities treat smugglers as criminals, smugglers actually are promoters of liberty who usually break unjust laws. The US was practically founded on smuggling.