Blockbuster’s demise began when it charged a man named Reed Hastings $40 in late fees. That annoyed him so much, he started a subscription-based, mail-order movie rental company he called Netflix.
MARKETS
Abolish Billionaires!
“I don’t think that billionaires should exist,” Sanders explained. The crusade’s rallying cry: “Abolish billionaires.” To that end, Warren and Sanders have each proposed special taxes on the ultra-rich.
Joseph A. Schumpeter: Entrepreneurship, Creative Destruction and Fatalism Over Capitalism
Joseph A. Schumpeter is identified with two related ideas, the notion of the innovative entrepreneur and the imagery of the competitive market as a process of creative destruction.
Bitcoin: Best-Performing Asset of the Decade?
Bitcoin’s returns over the last decade have dominated every other asset we can compare it with, but that still doesn’t tell us what we need to know about the future viability of this extraordinary development in human monetary affairs.
Video: Money, Banking & Public Finance
An introduction to political economy focusing on money, banking and funding of government.
Money and Liquidity
Perhaps the money of the future isn’t some sophisticated crypto token, but a private promise to consume a widely used service.
The Wonders of a Self-Regulating Free Market
The fact is, there is far more in the world that successfully manages and “regulates” itself without the controlling hand of the government than many of us pause to reflect on or understand.
The Case for Global Capitalism
The human condition has been and can continue to be radically and amazingly improved, if only personal freedom and free markets are allowed to work their wonders on our global community of free trade and networks of voluntary association.
Paul Volcker’s Anti-Capitalist Legacy Against Free-Market Banking
By helping to cut the dollar’s tether to gold, Volcker helped Washington’s politicians engage in perpetual fiscal profligacy.
In Defense of The Austrian School of Economics
If you approach Austrians economics from a Marxian-style dialectic, as Janek Wasserman does, then you will miss the entire point of the school of thought and its contribution to the science of economics.
Morality of Free Markets
If millennials and others want to wage war against government favors and crony capitalism, I’m with them 100%. But I’m all too afraid that anti-capitalists just want their share of the government loot.
Business Ethics and The Morality of the Free Market
The ethics of private enterprise and the morality of the market require both a preaching and a practicing of a respect for others’ individual rights to their property and to the rule of voluntary agreement in all transactions, even when market outcomes are not always favorable to oneself.
Not as Good as NAFTA: United States-Mexico-Canada Trade Agreement (USMCA)
The best aspect is that it keeps intact 90 percent of the old NAFTA; the worst is that what is mostly new and unique in USMCA is protectionist and economically destructive.
Andrew Carnegie: An Intellectual Capitalist
Wealthy capitalist Andrew Carnegie (1835-1919) was an indefatigable steel tycoon—and he was also intellectual.
Liberate Money From The State
I know that it’s good to have alternatives to government-created currencies. The dollar’s value is only backed by politicians’ promises. I sure won’t trust those.
What Is Comparative Advantage?
Your building your own deck would be worthwhile only if your cost of doing so is less than the cost of having someone else, such as Jones, build it for you.
Jean-Baptiste Say: An Economist in Troubled Times
To consume, men must first produce.
The Four Phases of the Great Depression
The Great Depression was not one, but four consecutive depressions that Professor Hans Sennholz has labeled as four “phases”: the business cycle; the disintegration of the world economy; the New Deal; and the Wagner Act.
A Financial History of Edinburgh: The Rise and Fall of Scotland’s City of Money
By removing the market’s solution to collapsing banks, this unraveling forced electorate-sensitive governments to take up the residual risk and backstop the financial system that Scottish banks themselves so effectively regulated in the past.
This Is Not a Printing Press
The Fed has been successful in fooling the markets regarding the temporary nature of zero-percent interest rates, the efficacy of QE, and its ability to normalize rates and shrink its balance sheet.
Jean-Baptiste Say, Capitalism and Say’s “Law of Markets”
Say’s Law of Markets already included the answers to the questions against free markets with which the Keynesians attempted to challenge the efficacy of capitalism a century later.
“Hostile” Takeovers Aren’t Actually Hostile
A “hostile” corporate raider can only buy shares that others voluntarily sell.
Case for Unilateral Free Trade (with Exceptions)
The coherent and correct case for free trade is, again, a case for unilateral free trade, one that applies to each country individually (with exceptions for isolated circumstances such as national defense).
The Virtue of Production
Business, the activity of producing and trading goods and services, demands a great deal of moral virtue, and businesspeople are not lowly materialists but moral creators.
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