Entrepreneurship

Small boarding houses once provided affordable housing for a large number of working-class Americans. They're mostly illegal now.

Whether it be the owner, the general manager, or the head coach, whomever has the final say on draft day is making a judgment in the face of uncertainty that they hope will benefit their organization.

We can have a competitive marketplace if government will just get out of the way and stop erecting barriers to creating new businesses and new competitors for established companies.

Our greatest enemy today is the economic illiteracy and confusion on the part of those who insist on “planning,” “stabilizing,” and straitjacketing the economy.

If consumers are free to choose, any entrepreneur focused on serving customers can compete against even huge established corporations. Moreover, the market provides a way to reward the most innovative and customer-centered entrepreneurs.

David Cowan discusses his recent book, Frank H. Knight: Prophet of Freedom.

Per Bylund discusses his recent book, The Problem of Production: A New Theory of the Firm.

Imposing restrictions on trade is not a mere academic exercise. It requires government agents, courts, prisons, police, and the whole panoply of the punitive, coercive state. To oppose free trade is to support more jails, fines, regulations, and more.

Fetter's neglected work is the source of some of the greatest insights in Austrian economics, and deeply influenced Mises, Rothbard, and others.

Ludwig von Mises reminds us that thanks to the rise of markets and capitalism, human beings gained more access to more abundance than ever before. And it is the consumers, not the producers, who have power over the market process.