When I left Soviet Russia in 1991, I thought I would never see a command-and-control economy again. I was wrong. Over the past decade the global economy has started to resemble one.
Why is it that starving Venezuelans are eating dogs while Americans are rescuing dogs from hurricanes?
When robots may be more effective workers and possibly better engineers, they cannot figure out what is valued. That’s the task of entrepreneurs, who bet on what consumers will want.
Libertarians know what should be done about government services and operations: they should be privatized. What should be done in the meantime?
If a large group of people express an opinion regarding future economic conditions, it does not make it more accurate than the view expressed by any particular individual.
In spite of claims they will benefit society overall, interventionist policies designed to benefit certain interest groups ultimately only help certain groups at the expense of everyone else.
By accepting the premise that government can and should solve all of life’s problems, conservatives and Republicans will inevitably get into a “bidding war” with progressives and Democrats.
It's frightening to see the persistent lack of insight shown by policymakers and financial media on the 2008 financial crisis.
The Company Men shows how, in order to move on from a devastating layoff, workers must first figure out how to be valuable to the customers.
As the credit expansion turns to bust, many capital goods remain unused, many investment processes cannot be completed, and capital goods produced are used in a manner not originally foreseen. A large portion of society’s scarce resources has been squandered.
