The efficient market hypothesis, which is popular in neoclassical economics circles, holds that markets are so "efficient" that entrepreneurial profits are generated randomly.
All too often, libertarians have equated liberty with atomistic behavior while treating private institutions with scorn. This just in: private institutions are cohesive, not destructive.
The news that Starbucks is closing sixteen stores due to customer safety concerns exposes the lack of police protection in cities and the problems with allowing noncustomers to remain in stores.
With his current timid, weak, and prevaricating position on price inflation, Powell is positioning himself as the new Arthur Burns, who did nothing to end 1970s inflation.
After more than a decade of monetary stimulus fueling elevated asset valuations and incentivizing an enormous leveraged bet on risk, a soft landing is impossible.
When we speak of entrepreneurship, we need to specify if it is economic or political. The first expands wealth and freedom; the second makes us poorer and less free.
Mass shootings are bad enough, but progressives have turned them into political events. They then claim that further politicizing these tragedies will reduce their number.
Police stood around outside the Uvalde, Texas, school while a gunman shot children inside. Meanwhile, gun control advocates tell us we should just trust the cops to keep us safe.
