By treating health care as a mass product, Shetty has been able to increase the quality of care, while making it financially accessible to a wider range of people. Instead of looking to government to fix our health care system, we should be looking to innovators like Dr. Devi Shetty.
Prior to the passing of the Wagner Act, workers were free to either join a labor union or abstain from joining altogether. But after its passage in 1935, this freedom of association was done away with.
The American people are not united on much these days, or so it would seem. However, if you wanted to give Americans a reason to unite against their leader, threatening their Amazon Prime accounts would be a surefire way.
If cities like Portland and Seattle are not more careful, they will start to see big businesses flee their cities so as to avoid having to deal with these burdensome taxes.
Imposing fines and threatening jail time for crimes that are committed “on accident” is not only immoral, it goes against the very foundation of justice.
Stanislav Petrov was working the overnight shift on September 26, 1983 when he inadvertently saved the world from nuclear war. Today he serves as a reminder that one individual can make an enormous difference.
There is this belief that by intervening and implementing the New Deal, FDR saved Americans from the depths of the Great Depression. But in fact, the opposite was true. FDR’s New Deal actually prolonged the Depression and made it far worse than it otherwise would have been.
The government should never be responsible for picking losers and winners. The taxi industry has failed to evolve and innovate over the years, which has allowed ridesharing services to fill a void in the market. Instead of being praised for their success, ridesharing services are being punished while taxi industries are being rewarded for failing to innovate.
A governing body that tries to control an entire economy will soon find they do not have enough knowledge or insight to do so. As Hayek reminds us, “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.”
While the last article addressed the concept of the knowledge problem and how Wales had specifically set out to solve this problem. But in addition to making information accessible to all those who seek it, Wales also incorporated another aspect of Hayekian economics when he created Wikipedia: spontaneous order.
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