Calculation and Knowledge
The Entrepreneur and the Summer Blockbuster
This summer, Hollywood is celebrating the 50th anniversary of its summer blockbuster “Jaws.” The making of such films provides a good analysis of how entrepreneurs operate in a world of uncertainty. Austrian economists are best able to understand how this process works.
The Entrepreneur and the Summer Blockbuster
Creating a hit movie series, television show, or video game is a phenomenon that not only strikes without warning, but can also strike in unexpected places—or fail to strike where it is intended. Austrian economics provides some key insights.
How Government Helps to Create Congested Traffic
The standard argument for government services is that only government can build enough roads to meet transportation needs. However, the disconnect between production and consumer choice ensures misallocation of resources under government roads, including traffic congestion.
How Government Helps to Create Congested Traffic
The standard argument for government services is that only government can build enough roads to meet transportation needs. However, the disconnect between production and consumer choice ensures misallocation of resources under government roads, including traffic congestion.
New Academic Paper Uses Rothbard’s National Output Metric
Bob hosts economists Vincent Geloso and Chandler Reilly to discuss their new paper, which applies Rothbard's "Private Product Remaining" to rethink how national output is measured.
To Make Flying Safe, Make Air Traffic Control a Profit-Seeking Business
With the recent collapse of air traffic control systems at Newark International Airport, air safety again is in the news. The problem is that the US ATC system is run on socialist principles. To fix this problem, turn to private enterprise.
Explaining the Quirks in the GDP Report
Bob Murphy digs into the latest GDP numbers, questions Peter St. Onge’s optimistic spin, and shows what the data really says about tariffs, trade, and recession fears.
The Case Against the F-35
People like to believe that national defense is outside of economic analysis, but the reality is that laws of economics are immutable and universal. A case in point is the development of the F-35 Lightning II fighter jet.
Startup Success Isn’t a Formula; It’s an Emergent Order
The greatest innovations don’t emerge from a checklist; they arise from an obsession with understanding something that others overlook.