The Entrepreneur

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.

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.

We are seeing Joseph Schumpeter's concept of creative destruction at work in higher education. The shake-up will continue.

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.

We are seeing Joseph Schumpeter's concept of creative destruction at work in higher education. The shake-up will continue.

Despite statements from Biden and other progressives, profits in a market economy are not a form of plunder. Instead, they represent entrepreneurial gains that mostly benefit consumers.

Despite statements from Biden and other progressives, profits in a market economy are not a form of plunder. Instead, they represent entrepreneurial gains that mostly benefit consumers.

Although mainstream economists hold that Adam Smith is the father of modern economics, it was Richard Cantillon that recognized the centrality of entrepreneurship in economic development. 

Although mainstream economists hold that Adam Smith is the father of modern economics, it was Richard Cantillon that recognized the centrality of entrepreneurship in economic development. 

As artificially low interest rates damage the economy, progressives in Congress demand more of the same. In the vernacular, they want the economy to “take the hair of the dog that bit them.” Of course, this only makes things worse in the long run—which is where we are today.