Much of government-owned transportation destroys rather than adds to wealth. The lack of a sound system of economic calculation is to blame.
People migrate for many reasons, including moving to a better economy and escaping political persecution. But one thing is certain: people are going to vote with their feet.
The simplest action of economics—beneficially mutual voluntary exchange—is also its most profound. People serve each other while improving their own lot in life.
Some are claiming that AI can make socialism workable, but even AI cannot take the place of entrepreneurial economic calculation.
Being large doesn't make a country wealthy, nor does being small shrink a country's economy.
Many people believe that the board game Monopoly, developed during the Great Depression, mimics a real-world capitalist economy. Monopoly is a game, not real life.
Can a government regulatory system be reformed? In a word, no. The free market is always the best regulator of quality and safety.
Much of government-owned transportation destroys rather than adds to wealth. The lack of a sound system of economic calculation is to blame.
Ryan McMaken joins Bob to discuss the recent US Women's World Cup elimination, and to dispel the myth that markets are discriminatory.
