The Real Meaning of Competition
We can have a competitive marketplace if government will just get out of the way and stop erecting barriers to creating new businesses and new competitors for established companies.
We can have a competitive marketplace if government will just get out of the way and stop erecting barriers to creating new businesses and new competitors for established companies.
Dr. Accad presents a brilliant application of Austrian theory to real world practice.
Hunter Hastings outlines how technology can help empower entrepreneurship and usher in a new age of individualism.
If consumers are free to choose, any entrepreneur focused on serving customers can compete against even huge established corporations. Moreover, the market provides a way to reward the most innovative and customer-centered entrepreneurs.
Subsidies, government quotas, and regulations of workers won't make us richer or better off. Only private owners and entrepreneurs can determine the best way to use labor (and capital).
For some people, there's nothing that can’t be improved by a big dose of government regulation. Now, even the virtual economies of video games are being targeted as the next frontier in labor laws, price controls, and more.
“Austrian insights distill the complexity of what we business owners do down to a very simple mantra: satisfy the desires of others. That's it. That's all any of us are trying to do.”
This week, the Federal Reserve raised the target Federal Funds Rate ever so slightly. The Fed perhaps felt it had to raise rates to protect its credibility, as credibility problems seem to be plaguing similar institutions worldwide.