Homines libenter quod volunt credunt
Posted in Entrepreneurs on Dec 28th, 2010
A commenter on this post asked me to say a bit more about how effective the price signals of profits and losses are in guiding useful entrepreneurial action. Briefly, here is the good question he asks: I wonder about these price signals in the discovery process. I see two distinct situations: where I am copying […]
Posted in Entrepreneurs, Price System on Dec 17th, 2010
In what might be called the “Economics 1.0” view of the world we think of the process of producing some good or service as a simple “Sneetch Machine.” Someone gets some land and uses that land along with some workers and some machines to produce some output. The financial flows in this sort of a […]
Posted in Entrepreneurs, Price System on Sep 23rd, 2010
Oops, wrong again. Blockbuster Inc., once the dominant movie rental company in the U.S., filed for Chapter 11 bankruptcy protection on Thursday, reeling from mounting losses, rising debt and competitors that have better catered to Americans’ changed media habits. What? I thought companies told people how to consume? I thought we were powerless to choose? […]
Posted in Entrepreneurs on Sep 22nd, 2010
Western, NY has some of the finest farmland in the United States. One reason our family was attracted to the area was the abundance of scenic and productive and tasty and fun farms! However, as nice as the place is physically, the Wesley Mouches of the world are doing their best to see more houses […]
Posted in Entrepreneurs on Apr 12th, 2010
Richard Trumka, head of the AFL-CIO (yes, that financial regulatory body) argues that venture capitalists and hedge funds ought to be regulated because a good number of firms they take over end up bankrupt. Extra credit to anyone who wishes to analyze what he says. Here’s one hint – maybe, perhaps maybe, these firms were […]
Posted in Entrepreneurs on Dec 15th, 2009
The AP History view of the “robber barons” like John D. Rockefeller is that they monopolized entire industries, forced smaller competitors out of business, made lots of “offers people couldn’t refuse” and generally did all of this much to the detriment of the American consumers. So, these bastards needed to be stopped! Enter in the […]
Posted in Entrepreneurs on Apr 9th, 2009
Mr. Mottola hopes his new business, Family Hot Dog, will supplement his sagging income as a home contractor. “I’m creating my own stimulus plan,” he says. “I’m not waiting for the president.” Sadly, this will be riduculed. More sad than that: “After Jerry and Sandra Mottola ordered a $3,000 hot-dog cart online recently, they discovered […]
Posted in Entrepreneurs on Jan 16th, 2009
Meat? Plastic? Building Material? Oh yeah, Grain too. I love this show. Watch the show. Then imagine all of the entrepreneurs out there working with the thousands of agricultural products we use and have yet to discover … That’s the creative part of creative destruction … and perhaps reflecting on it will brighten your day […]
