Anti-capitalists love to claim that consumers don't really have free choice — that advertisers and peers really dictate to others what they should buy. In truth, consumers choose freely, but use others to filter information and simplify the process.
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.
Japan's Shinzo Abe has turned to Europe in hopes of stabilizing Japan's fiscal and and monetary situation. But Europe is a shaky foundation on which to build anything.
