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Guess Who Built the Roads?
There’s a great story in the news this week about Mike Watts, a British entrepreneur who’s found a creative solution to one of economics’ most clichéd questions: “Who will build the roads?” Ever since...
View ArticleMalaysian Airlines Opts for (Complete) State Ownership
Beleaguered Malaysian Airlines is opting for a government buyout in the wake of recent disasters. The company is already 69% state-owned, but a new deal will allow the Malaysian government to acquire...
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The Economics of Perpetual War
The 100th anniversary of the beginning of World War I seems like an ideal opportunity to spread a message of peace and economic cooperation; sadly, 2014 has so far been a year of new and renewed...
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Do Incentives Really Matter?
The phrase “incentives matter” is ubiquitous in economics, from undergraduate teaching to economic policy debates. The mantra is especially popular in the growing literature targeted at the general...
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Entrepreneurship Can Be Hazardous to Your Health
An entrepreneur at work. The Economist ran a good article last week about the enormous difficulty of being an entrepreneur. In particular, the piece emphasizes the importance of doing away with the...
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Mises vs. the Austro-Marxists
Rudolf Hilferding Paul Krugman isn’t the first economist to project his own faults onto opponents: adversaries of Austrian economics have been doing it since the early days. One lesser-known example is...
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England’s Private Road Rakes in the Money
A couple of months ago I wrote about Mike Watts, the businessman who built a private toll road to replace a public road destroyed by a landslide. Because local government couldn’t fix the damaged road...
View ArticleScientific Progress Needs Entrepreneurial Progress
In our age of technological marvels, it’s easy to be in awe of science, and even to believe that science in and of itself is responsible for the high living standards enjoyed in some nations. Likewise,...
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I Only Read It for the Articles! Rothbard’s Penthouse Interview
G-Rated (Almost) Edit of October 1976 Cover In the 1970s, Penthouse magazine had a reputation for featuring the ideas of unorthodox political thinkers and movements. That’s why in October 1976 it...
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Military Socialism
There’s a long history of comparing market competition to warfare. Game theorists, for example, sometimes use metaphors borrowed from military strategy to talk about competitive decision making, and...
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