Competition Is Beautiful

Living in a rural area, I know a lot of farmers, but I actually know more former-farmers. They no longer farm because, for whatever reason, they could not be profitable, or the profits they earned were not worth the tremendous investment of their lives and their energy. On the other Continue Reading →

Not Fear, but Healthy Awareness

Franklin Delano Roosevelt gave us one of the most iconic phrases of all time: “The only thing we have to fear is fear itself,” a message of hope appropriate for the circumstances, reminding people that fear doesn’t get us anywhere. Though FDR ultimately proved that we do have a lot Continue Reading →

Thanksgiving Is Profitable

Thanksgiving is one of the biggest holidays for our family. It has been a tradition for some extended family to come to our house, not just for dinner, but some of them for multiple days. It is a lot of work in preparations, in cooking, and in caring for multiple Continue Reading →

Lessons from Yard Sale Entrepreneurs

Last weekend I went with some family members for a fun day of “yard saling,” visiting the many yard sales in a particular locality, where people use their front lawns or garages to sell the stuff they want to get rid of to people passing by. I wasn’t looking for Continue Reading →

The Lottery as a Metaphor for Life

Much has been made of the comments by the President and other prominent leaders about the winners and losers of the lottery that is life, and rightly so. The lottery mentality makes a tremendous difference for a lot of people. It’s just that the difference is different than they portray Continue Reading →

The Role of the Entrepreneur

Astute observations and logic can yield timeless insights. Richard Cantillon, a French businessman and philosopher, wrote his “Essay on the Nature of Commerce in General” in 1730, decades before Adam Smith wrote his celebrated work, “The Wealth of Nations.” Thanks to the Mises Institute, it is now widely accessible with Continue Reading →

Let Agricultural Markets Work

The U.S. Agriculture Secretary has announced a new and improved agricultural program. It pays dairy farmers when the difference between milk prices and feed prices declines to a level determined by central-planners. What are the implications, however, when prices shrink or when costs rise? The reasons are basic economics, but Continue Reading →

The Moral Superiority of Free Markets

The age-old battle rages on about the failures of markets and the necessity of government regulation. It seems to me that the argument persists simply because free markets and their participants are held up to the harsh light of reality and compared with visions of Utopian perfection, while government actions Continue Reading →

True Public Service

Public servants, as the term is normally understood, really don’t serve the public at all. They don’t live a selfless life of doing for others out of the goodness of their hearts. They work for a paycheck, just like everyone else. They work for their bosses, just like everyone else. Continue Reading →

Inspiration from Unexpected Places

I am once again teaching at a Youth Liberty and Entrepreneurship Camp in Ghana, West Africa. Young men and women, many of whom attend or who are graduates of university, gather to learn skills to help them build businesses, recognizing that, with the high rate of unemployment among youth, there Continue Reading →