Capital goods become available thanks to secure private property rights, and a class of people willing to save and invest. Without this, there can be no great progress in the standard of living. But, it all takes time.
It appears in the absence of formal government, that the Western frontier was not as wild as legend would have us believe.
Healthcare is inaccessible in many ways, and it is notoriously inefficient. There is a fundamental misalignment between patients and the system.
It is absurd to say we wish to do away with religion, education, property, labor, and the arts simply because we oppose government subsidies. Rather, we merely oppose stealing from one group of citizens and handing over their wealth to others.
It is striking that the major resurgence of Scholastic ideas came out of Austria in the late 19th century, a country that had avoided a revolutionary political or theological upheaval. If we look at Menger's own teachers, we find successors to the Scholastic tradition.
Successful entrepreneurial leaders play a central role in empowering employees to use their localized knowledge.
