Business owners have always made errors, and external factors can lead to economic crises of various sorts. But the cyclical pattern of booms and busts we now see are a result of government interventions not seen in a free marketplace.
"If the US and Saudi Arabia are particularly hesitant to retaliate against Iran it is because they know now, contrary to what they might have believed a year ago, that a counter-attack will not be a cost-free exercise."
There is a myth that Progressive humanitarians agitated for meat-packing regulations which now protect us from disease. The reality is that the big meat packers themselves wanted regulation to help crush the competition.