- Where are the real entrepreneurs? If I remember correctly, Mises pointed out in the 1940s about how businessmen and entrepreneurs are not the same thing, and for large corporations, risk-averse businessmen are preferred to entrepreneurs because they “won’t rock the boat.” Of course, that risk aversion ends up being the first step in the destruction of said corporations, as they lose the ability to adapt and innovate. Creative destruction gets all companies in the end.
- Mario Rizzo has done it again regarding the New Paternalism. As I’ve talked about a couple times before (here and here), Rizzo is one of the foremost critics of Thaler-Sunnstein paternalism, and he—along with Douglas Whitman—has written a paper elaborating upon his critique.
- Gerald O’Driscoll makes a great point regarding the upcoming inflation risk. Right now, inflation is relatively low (though the dollar is depreciating, indicating that inflation is higher in the US than in the Euro zone), but with nominal interest rates at just about 0% (and thus, negative real interest rates), inflation will jump and getting it under control may require another Paul Volcker. Sadly, all we have is Ben Bernanke.
