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).
Last year, British entrepreneur Mike Watts made headlines when he opened England’s first private toll road in more than a hundred years. The road has now been closed, but its brief history provides a sad (and all-too-typical) example of...
Research is not just the way we add to the body of knowledge left by previous generations, but is also an effective means of engaging and challenging the ideas of mainstream economics.
