What exchanges take place, and which do not, is affected by how markets are regulated. Black markets and regulated markets have different outcomes than free markets.
Rothbard’s work on welfare economics probably ranks among his least-known achievements, but it is truly a tour de force and another tribute to his great originality and talent as an economist.
Robots are not fundamentally different from other labor-saving innovations, and there's no reason to believe increased innovation will lead to mass unemployment or mass poverty.
Here we see two rival strategies to marketing healthcare services. The status quo is based on insurance payments and price secrecy. Walmart's strategy is based on price competition.
Thanks to entrepreneurs, markets are dynamic and constantly expanding. Attempts by governments to manage prices through the bureaucracy are sure to hinder this dynamism and drive to serve customers.
