Production Theory

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Wow! Economic Growth without Government!

Free MarketsProduction Theory


Statism resounds in the last two paragraphs of this article (NO subscription required) in this...

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An Island of Pride In An Empty Sea

Production Theory



How strange to find pride of workmanship in this seaside casino where the trick is to get rich without working; unless you consider work the mashing of a red lighted button that says "spin wheel".

Surrounding the buffet, where I'm chewing on a moist sticky sweet macaroon are...

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Left Coast Road Socialism and the Market-friendly Governor

InterventionismProduction Theory


Yesterday afternoon, my friend, who has recently moved to the Left Coast, pointed to this blog to alert me to the fact that MacArthur Maze, "the complex of freeways where Berkeley, Oakland, San...

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Socialist Calculation versus Magical Monsters

Taxes and SpendingPhilosophy and MethodologyProduction Theory


My friend, not exactly a libertarian but not a socialist (pro-market, anti-war, anti-cop) — okay, pretty libertarian, actually — thinks that if the US government, for the last 40 years, had spent nothing on war or welfare or anything else, but retained the same tax schedules, it would have been...

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Drop Errors and The Trouble with Peer Review

EntrepreneurshipPhilosophy and MethodologyPolitical TheoryProduction Theory


In product development there are two kinds of errors. A "go" error occurs when the green light is given to a product that eventually fails. The Edsel, a $250 million write-off by the Ford Motor Company in 1959, is one example. The "drop" error occurs when an idea that could have been highly...

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Penn and Teller Send Up Wal-Mart Hatred

Media and CultureCapital and Interest TheoryProduction Theory


Once again, Penn and Teller hilariously explode the myths and superstitions about capitalism with a healthy contempt and a plethora of curse words, so use discretion.

Here's Wal-Mart Hatred is Barbara S...

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A Suit of Conservative Principles

EducationPhilosophy and MethodologyProduction Theory


Life without international trade: using local labor and materials only, a suit takes 500 man-hours to produce. And it's not exactly high-quality. But what a great teaching project by Kelly Cobb of Drexel University.

Here's the story from...

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Success without the State

EntrepreneurshipProduction Theory


A very nice pro-market commentary by Richard W. Rahn came out in today's Washington Times praising The Science of Success, a book covering "Charles Koch, who, along with his brother, David, built this...

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Security, public or private

Free MarketsEntrepreneurshipPolitical TheoryProduction Theory


Traveled to a big city lately? If so, you must have gotten words of wisdom from someone close to you. Advice, such as: do not walk the streets after dark; and, beware of pickpockets. Sound advice indeed. However, let us look closer to what is being said, and what is not said.

Your sage...

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Public Goods and Bads

Production Theory


Here is an interesting paper by Christopher Coyne and Steve Davies. It counters the argument that empire produces public goods by pointing to the many public bads of empire.

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