Failing to “De-control” . . . In the ten months following the end of WWII, the US federal employee payroll increased by 20%. We failed to hand back control to the private populace then, and we’ve been doubling down ever since. This speech by Leonard Reed, given in 1946, is worth your time; it’s just as relevant today as it was 70 years ago.
Entrepreneurial Faith . . . There is no miracle in the effectiveness of free markets, says Ludwig von Mises, but only “economic logic working itself out through market forces.” But every day, the individual entrepreneur lives by “faith” as he pursues an unseen future.
SCOTUS got this one right (3:20) . . . In 2010 the Supreme Court ruled for Citizens United against the FEC. This look back reminds us of the bullet we dodged and the actual effects of the ruling for corporate campaign contributions and individual first-amendment rights.
Value over Profit? . . . It sounds nice and spiritually, but it’s a recipe for disaster. Not only does value not work in place of profit, but the only way to get to value is through profit. Ever business owner knows this intuitively. If you’re not a business owner, Pete Earle of FEE explains it.
The OTHER National Convention (5:00) . . . No, not that other one. The other other one…the Libertarian National Convention, and here’s what happened at it over the weekend.