Instead of striving for a theoretical ideal of perfection, markets are supercomputers of epic proportions, leveraging the information and motivation of every individual to make sure the right resources get to the right places at the right time.
The Whole Foods brand has grown and Amazon’s stock soared. More importantly, this takeover woke up retail giants such as Kroger, whose stock suffered a great hit following the purchase. So when experts alerted the world early in 2018 that Amazon was going to purchase Target as well, everyone paid attention.
For China to crack down on its supposed violators of IP, import US law as its own, permit US courts to enforce it, and acquiesce to every other point demanded by the US, even if these impossibilities were possible, would end in making its economy less free, less productive, and more dangerous for free enterprise.
The sharing economy has made sharing our private property and time more than acceptable; it’s made it a glamorous occupation. As millennials transform side hustles into how they make a living, yet another aspect of our personal lives is becoming fair game: our closets.
More effective than any government program would have been, the introduction of the internet, increased access to birth control, and the increased awareness that came from a popular TV show obviously helped generations of teens to make better decisions about their own lives.
The market provides, even when nobody expects it to. That’s the lesson we’ve learned from Walmart, whose Texas mental health clinic is helping customers in need.
The rose-colored tint on the glasses through Michael Lewis views government is vibrant and intense, but for libertarians who want to see real, practical, and attainable change in the near term, Lewis’ arguments are worth taking seriously.
Unlike public agencies, companies must adapt to make sure their consumers are happy. Otherwise, they go out of business.
Claiming to be looking after the homeless’ safety, health officials said the food, which is prepared by volunteers at their own homes, is not good enough for people living on the street. After all, home-cooked meals could expose the needy to food-borne illness.
The argument that politics is controlled by some of the wealthy and run for their benefit is largely correct, but the conclusion should be that we should restrict their opportunity to do this by limiting politics and government, not that we should expand them.
To understand the awesome power of heterogeneity is to adopt a different outlook on society itself. It is to embrace the core liberal claim: society doesn’t need top-down management, because it contains within itself the capacity for its own management.
You might observe that this is the free market’s way to co-opt the anti-racist movement on behalf of capitalist profits. But maybe that’s not a criticism. Maybe that’s a way to get the message out and make it more culturally operational.
Overstating how misinformed, unrealistic, and just plain wacky are the economics that underlie these proposals of Sens. Warren and Sanders is impossible. Also impossible to overstate is the amount of damage that enactment of these proposals would inflict on the American economy.