Industrialization and capitalism finally freed us from the starvation and deprivation of endless centuries of subsistence living. Now socialists in Venezuela have managed to reverse centuries of progress.
Socialist regimes have long gone to great lengths to replace all the independent institutions of civil society with the omnipotence of the state in all things.
A comparison between the two theories of entrepreneurial action suggest that it may be time to drop the use of the words “equilibrium” and “disequilibrium” from economics.
