Calculation and KnowledgeEntrepreneurshipProduction Theory
Kerkorian was an eighth-grade dropout who would go on to earn billions, and epitomized Mises's idea of the entrepreneur.
If politicians cared about affordable housing, they'd be doing all they could to repeal regulations and encourage more construction.
World HistoryOther Schools of ThoughtPhilosophy and Methodology
The Nobel committee this year showed that it has embraced clever economic modeling as a replacement for scientific progress.
Booms and Busts
Skyscrapers that set world records for height don’t cause economic panics, but are, instead, a warning a boom has reached its peak.
Bureaucracy and Regulation
Many urban police departments fail to make arrests in even half of the murder cases in their jurisdictions. Imagine if a private sector policing firm had a similar rate of failure.
Bureaucracy and RegulationMoney and BanksMoney and Banking
Rothbard: "if proponents of the higher minimum wage were simply wrongheaded people of good will, they would not stop at $3 or $4 an hour, but indeed would pursue their dimwit logic into the stratosphere."
Philosophy and MethodologyPolitical Theory