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Uber is now even defending the rights of those who want to be drivers but who don’t have the money to get expensive driving permits.
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Far from a vindication, the mid-20th century experience of the United States actually points to the futility of using confiscatory tax rates to counteract inequality.
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And yes, I’m glad that sea turtle no longer has a straw up his nose. I hope he wasn’t quickly eaten by a shark, which is the leading predator of these animals.
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State-run or state-privileged companies have for many decades dominated European markets. But the moment the opportunity arose for others to enter the market, those very companies faltered, while others are currently prevailing. The benefits are immense.
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Edward Stringham speaks to the subject of economic growth on the popular BBC show “Talking Business”
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I could have eaten it without violating anyone’s rights, so far as I can tell. But doing so would bump into an idea that forms the basis of social order, the very distinction between what is mine and what is thine. And keep in mind that this norm thrives most (or only) in an environment in which we are not desperate. In famine and war, such norms become more flexible. Sitting at the airport bar, I had the luxury to be scrupulous … and remain hungry, awaiting my chance to beg the flight attendant to give me an extra bag of salted almonds.
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In so many areas, Obama seemed like an intelligent and thoughtful person, certainly someone who wanted to achieve some good. But even from his earliest extended interviews – however erudite and insightful – it was clear that he had a gigantic blind spot about fundamental economic topics. Most foundationally, the topic of wealth creation was never on this mind. He had great confidence in the capacity of great public administrators to manage economic life from the center but no discernable awareness of the limits of state power.
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The “sweet spot” that facilitates spillover effects occurs with foreign firms with local market focus and highly tangible assets. Although the results are not uniform, this new research shows that far from being detrimental, foreign companies keep local ones on their toes, as locals search for ever better ways to serve customers and piggyback on newly observed strategies.
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The continued growth of mobile money should excite anyone who believes private sector innovations are the best means of achieving sustainable economic and financial development across the developing world.
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The continued popularity of the cast-iron skillet illustrates a point. The purpose of technology is not to be new. It is not to complicate your life. It is not to do something never done before. It is not to confound, confuse, or disorient. The purpose of technology is to make your life better than it is. In this case, technology can come from any age, even the ancient world. As the slogan of Lodge pan company says, iron is forever.
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Will we ever again trust the experts to run our lives, pick our leaders, tell us the news we need to know, plan our economy? It’s just not going to happen anytime soon.
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Consider our good fortune. A third of our lives are spent on mattresses. A solid sleep is determinative of a good life. And get this: you didn’t build that mattress. Someone else is working right now for you, in the hope that you will buy. That’s called the market at work: endless progress, a beautiful community of work, ever better quality, ever lower prices.
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