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Wall Street has convinced itself that the Fed will soon engineer a "soft landing" by bringing down inflation without an accompanying recession. They need to rethink their beliefs.
State regulation of marriage—and the ensuing secularization of marriage that followed—is a historical development that was part of the larger trend toward the expansion of state power.
For families and friends gathering for Thanksgiving this year, many will assemble in a room called the "dining room." This is a modern luxury made possible by the bourgeois merchants of old.
Free-market production, albeit imperfect, is driven by entrepreneurs seeking to profit from serving consumers. Government regulations sever this link to consumers wants.
Many investors forget that when the easy money is flowing, financial mediocrities and even outright frauds can be made to look like legitimate geniuses.
Value is a moving target because consumers want change over time and innovations and new opportunities. The constant adjustments mean the market is best understood as a process.
We should not conflate management with entrepreneurship. It is an error to misconstrue the market process as mere production management.
Governments can conjure up money at the printing press—with predictable results. But anyone wanting a Lamborghini will have to produce real wealth to purchase it.