Statistics can only go so far in telling us about patients, so doctors must deal with uncertainty every day while applying the skills of entrepreneurs. In a way, the best doctors are often the best entrepreneurs.
The biggest technology problem we face today is not the rise of technology in the private sector. New technologies only improve worker productivity and wealth accumulation. The real problem is in the many ways that the state will use technology against us.
It's the age-old question: is success the result of natural talent or simply hard work? This problem is especially important for entrepreneurs.
The true lessons of Thanksgiving are that private property, the market economy, and personal responsibility lead to prosperity, while government intervention makes us all poorer.
Amazon has developed a new way to help people do easy work for a little extra cash. The jobs involve repetitive tasks that computers can't do. But, since the jobs pay below minimum wage, we're told the whole thing should be outlawed.
The Fed's Federal Open Market Committee renewed its commitment to easy money this week. The Fed will pretend to be committed to raising rates while doing nothing, and its ongoing war against deflation will continue to make us poorer.
Thanks to enterprising Peruvians who ignore the regulatory state, Peru continues to see growth in the standards of living of its citizens. Unfortunately, the global elites behind the World Bank are determined to regulate and "modernize" Peru until this entrepreneurial spirit is destroyed.
International trade grasped headlines with Monday’s announcement that twelve governments have agreement on the Trans-Pacific Partnership. While we should expect to see this celebrated in the editorial pages of the Wall Street Journal, it is unfortunate even libertarian organizations are praising the agreement.
In this adaptation of a Q and A session at the Mises Institute, Overstock.com CEO Patrick Byrne discusses the potential for revolutionary change that could come to both markets and states with the spread of new technologies like the block chain.
