Without markets, it would have been impossible for a country like Rwanda, ravaged by the war, to achieve the growth it has experienced over the past twenty years.
David Gordon is not convinced by the usual arguments claiming property owners ought to be forced to sell their property for an arbitrarily determined "market price."
Governments that hamper entrepreneurship certainly damage it in the near term. But these measures destroy the conditions necessary for innovation and entrepreneurship in the future as well.
Why should we think that government officials are better at acting “rationally” than those they regulate? Even if we were to concede that smoking deserves to be restricted, why should we think the government can do it in a reasonable way?
The mainstream National Bureau of Economic Research definition of recessions is of little value. Real saving, not consumer demand, is the real driver behind economic growth.
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