The top AI CEOs aren't acting like they genuinely believe their technology will soon cause human extinction. But they are acting like the successful cartelizers of history, who recognized that state power is the best way to protect market dominance.
Lenin wrote that the capitalists would provide the rope by which they would hang themselves. That certainly seems to be the case with the Bolshevik Revolution of 1917, which received strong financial help from the center of crony capitalism itself: Wall Street.
Get ready to hear a lot about how we need government regulation to ensure that only state-approved, expensive, crony "capitalist" firms are allowed to develop AI.
The more the state is involved in “eliminating” poverty, the more poverty we have in society. The free market is the best means of reducing poverty.
By ignoring the entrepreneur, mainstream economists are also removing a vital part of economics theory. It is like designing a car and leaving out the engine.
Empire creates the foundation for foreign meddling in domestic politics.
As the Federal Reserve desperately tries to force down interest rates of long-term US bonds, we should remember that the only way for those rates to effectively drop is for American savers to lower their time preferences.
While the American Revolution led to the creation of the United States, it had one sorry legacy: the proliferation of paper money. That scourge still is with us.
As governments grow in size and power, some come to believe that this growth can go on indefinitely. But state power, too, has its limitations.
As the federal government continues to metastasize, rolling back state power will have to begin with the state governments. Florida is providing some good examples.
