Prof. Bylund discusses his native Sweden, and why we can't understand economics without understanding the entrepreneur, and how the entrepreneur is absolutely central and essential to a growing economy.
Socialists contend that Argentina's economic woes were caused by too much "neoliberalism." Yet not even Argentina's alleged neoliberal president Macri did anything to implement any significant reforms in the direction of free markets.
Keynes's Malthusianism indicates that he had a defective understanding of the division of labor and the law of returns. Beyond that, his population policies reveal the totalitarianism inherent in the Keynesian vision.
Value lies largely in the mind of the consumer, and the task of the entrepreneur is to try to understand consumers’ feelings and preferences and to provide a product or service in line with what the consumer wants.
The African continent is exceedingly rich in natural resources, yet the living standard of Africans is very low. The most plausible explanation for this discrepancy is the lack of a system that protects private property.