In 1943, as collectivist policies were ascendant, an extraordinary thing happened. Three women published three books that year that would jolt Americans from their socialist stupor and remind them of the fundamental American values of individual liberty, limited government, free-market capitalism, and entrepreneurship. This Women’s History Month is an ideal time to reflect on how Rose Wilder Lane, Isabel Paterson, and Ayn Rand helped to catalyze the 20th century libertarian movement.
What is wrong with the welfare state? The two biggest flaws stem from its nature as a government institution.
Teenagers are often unfairly stereotyped as idle and frivolous. But, the teenage years can be an incredible time of ingenuity, entrepreneurship, and resourcefulness—especially when teens have the freedom and encouragement to collaborate and innovate.
A reader emailed me asking how I feel comfortable sharing political views that are widely unpopular. He also asked if I’ve written about this, and I don’t think I have, so here’s my response.
Unsurprisingly, not all economists agree on how to approach what used to be called “political economy”. Adam Smith in 1776 defined it as “an inquiry into the nature and causes of the wealth of nations”. It was understood that the default state of mankind was poverty, so the question was how people become wealthy.
Episode 431 has Skyler reading and giving his commentary on an article by entrepreneurship professor Per Bylund titled, “Debunking Seven Common Criticisms of Austrian Economics”.
This week, the Wall Street Journal reports that entrepreneurship during the pandemic is accelerating. Several metrics point to this growth, including the number of people applying for tax identification numbers. The Journal cites US Census Bureau data revealing that applications by small businesses rose nearly one-third between January and September, compared to the previous year. In particular, applications skyrocketed between July and September, rising 77 percent from the previous quarter—the biggest quarterly increase in 16 years of tracking this data.
Or, horror fiction on a libertarian website, if you prefer (see my bio below). Most of us have heard this expression, but for the uninitiated, it means attempting to market a product, service, or idea to the wrong or inappropriate audience or demographic. Thing is, I recall a hardware store in New Hampshire about 20 years ago that did sell fried chicken – and it was delicious.
The pandemic offers a moment ripe for “creative destruction."
Instead of waiting for instructions from authorities, enterprising parents and entrepreneurial teachers are joining forces and taking initiative.