Economic Equality versus Economic Liberty by Alex Merced One of the fundamental divides among activist economics is what is the goal when thinking of policy and the economy. Progressives focus on Economic Equality and how policy can manipulate the economy to distribute resources in a more "equitable"...
A Respone to Peter Kleins Lecture on Entrepeneurship by Alex Merced This is a Response to Peter Kleins Lecture on Entrepeneurship In this lecture Peter Klein does a great job discussing different aspects of defining the entrepeneur, so to sum up two of the main definitions discussed. Mises - The Entrepeneur...
The natural state of affairs when market entry is free is for net utility gain from profit-orientated investment to tend to zero. This is not the same thing as average monetary gains because the marginal utility of money declines as the amount of money an individual or group has increases. Therefore...