Entrepreneurial Innovation and Crony Corruption

It always starts with entrepreneurial innovators breaking new ground and establishing new avenues for the expression of individual liberty and private initiative. Then, as soon as some of the companies established by those innovators grow sufficiently large and influential, the biggest protection rackets operating in their respective territories stop fighting them and proceed to corrupting them with subsidies, “public contracts”, unofficial monopoly privileges, etc.

Ethics 101: Reciprocity

People have been arguing about how to deal with ideas of right and wrong for a very long time. Even now, reasonable people sometimes disagree about where exactly to draw the ethical line on some complex issues. After all, the world is a complicated place. That being said, one idea has emerged over and over again in the quest to understand right and wrong from essentially every cultural, religious, and philosophical tradition: the ethic of reciprocity.