The Folly that is “Local” Currency

How’s this for a great idea: we build a small fleet of cars, and market them to people in the local community. How do we compete with Ford, G.M., Toyota, and all those other huge car companies? Easy. You see, our cars will have special octane requirements that will...

Telephones, Technology, and Freedom

For decades, it has been argued that certain goods are “natural monopolies,” which Investopedia describes as: A type of monopoly that exists as a result of the high fixed or start-up costs of operating a business in a particular industry. … The utilities industry is a...

What Love Is and Isn’t

When you love someone in a rational, genuine way, you love that person as an individual. You sincerely want him or her to be happy, and you want to add to their life while, at the same time, experiencing your own enjoyment of that person.

“Moneyball” and the Source of Values

“Moneyball” is a baseball movie that isn’t about baseball. It is a movie about the passionate pursuit of values. And more fundamentally, it is a movie about the source of value creation—the rational, independent judgment of innovators. Starring Brad Pitt as Billy...

Austerity Fires Voter Vengeance Against Euro

Though there can be little doubt the euro would survive without the Greeks or the Spanish, there is greater doubt of the euro surviving without the Germans solidly behind it. As the world’s second largest reserve currency, the collapse of the euro would precipitate a major international monetary crisis.