“Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime.” This statement is somehow related in…
According to Milton Friedman, "The price mechanism is the most efficient system we have for using resources. It sends signals, incentives, innovation, and balances supply and demand- all without a…
Bloomberg surprise readers a few days ago with the headline: “Vietnam’s Communists Join Musk, Milei in Slashing Government.” https://www.bloomberg.com/news/articles/2025-01-09/vietnam-s-communists-join-musk-milei-in-slashing-government The article states: “As Elon Musk und Argentina’s Javier Milei champion…
The real economic life is about people and the relationships between them motivated by their aims and actions. We must understand human motives and interactions before we understand economics. This…
The evolution of the human mind gave rise to psychological, sociological, and economic needs. As psychological needs evolved, a greater sense of self-awareness and consciousness developed. This development led to…
Entrepreneurship involves such a range of activities and levels of analysis that no single definition is definitive. – Lichtenstein (2011, p. 472) Entrepreneurship is such a vague term that a…
According to Walter Isaacson’s biography of Elon Musk, in the early 2000s, after selling the company PayPal, Musk was sitting with some of the company’s alumni in Las Vegas and…
Anti-capitalism is back in fashion. Even Marxism, which many had declared dead after the collapse of socialism, is experiencing a renaissance. Books such as those by the left-wing French economist…
In the course of the 20th century, Venezuela went from being one of the poorest countries in Latin America to becoming the richest. In 1970, it ranked among the 20…
According to the 2023 Index of Economic Freedom, Sweden is among the most market-oriented economies worldwide. Overall, it ranks in 10th place, far ahead of the United States (25th) and…
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