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The example of England in the Industrial Revolution suggests enormous amounts of innovation and growth can be achieved even without high levels of education among the general population.
Booms and Busts
It will come as yesterday's news that the speculator is perennially under attack by the social justice warriors. Yet speculators serve a crucial and valuable role in surviving economic disasters.
Philosophy and Methodology
Isn’t a principle of nonaggression against others another way of stating the self-ownership principle? "Not necessarily," says the insightful philosopher Chandran Kukathas.
The people who really run California aren't going anywhere. Even if California voters throw out Newsom very little will change in state government.
In the era of global lockdowns, we've seen increasing supplies of money, decreasing supplies of goods, and governments financing their citizens to forgo work and stay home. The resulting price inflation should surprise no one.
The capital gains tax cuts off start-ups and smaller entrepreneurs from access to flows of capital. The tax makes society more wasteful, less innovative, and less dynamic.
With such a messed-up economy, why is it still hard to spot a bust on the horizon?
If the US wants to strengthen its economic and geostrategic position versus China, it needs to apply the same free market principles that made it prosperous and powerful in the first place.