Capitalists and entrepreneurs serve distinct functions in the real economy. Capitalists save money that then maintains production processes until final goods are produced. Entrepreneurs adjust the capital structure in light of uncertainty to produce the most desired goods. Capitalists are rewarded with interest, entrepreneurs with profit.
If we're serious about maximizing the resources needed to combat COVID-19, we need an economy that is deregulated and flexible.
One of the important aims of the Anatomy of the Crash is to highlight the truly global nature of the monetary policy failings since 2008—not simply critiquing the actions of the Federal Reserve, but their colleagues at the European Central Bank, the Bank of Japan, and elsewhere.
GDP is fine for counting things like washing machines. But it is quite useless for counting other basic indicators of the quality of life.
Experts such as Anthony Fauci are experts only in the narrow field of their expertise. They have almost no knowledge or expertise in other fields, including—apparently—the basics of how human societies function.
Ludwig von Mises and Ayn Rand held very different views about the origins of Nazism, and in this article I am going to describe these differences. Both involve German philosophical ideas.
If you are shocked by the extent to which Canada’s various governments have shut down the economy with the onset of COVID-19, you should be more shocked by how much they shut it down before COVID-19.
As states in various areas of the Continent embarked on centralization and territorialization in the fourteenth century, communities very often took up arms against forms of taxation. The Cornish Rebellion of 1497 against national taxation is an example of this trend.
From medical practices to grocery shipments, governments are loosening restrictions in order to keep goods and services affordable. But if these restrictions are unnecessary now, why claim they are ever necessary?
The key to recovering jobs quickly and efficiently is the combination of a flexible labor market, an attractive investment framework, and solid policies to preserve the business fabric of the country.
