How does LeBron James make the right decision that generates the most satisfaction for the most people, including but not limited to himself. He applies the principles of economics.
About Hunter Hastings
Hunter Hastings is the Executive Director at Center for Individualism. He's an economist, venture capitalist, and lifelong advocate for liberty, economic freedom, and individual entrepreneurship.
Hunter’s current research is focused on the intersection of 21st century individualism, emerging technology and the radical decentralization that is freeing markets and creating a new spectrum of individual opportunity. His newest book is The Interconnected Individual, co-authored with Jeff Saperstein, to be published by Business Expert Press in 2018.
Entries by Hunter Hastings
America slowly but surely lost her sense of robust private ownership, the soul of a free society. It happened through the tax and regulatory state, jettisoning economic substantive due process, absurd readings of the Commerce Clause, and through the creation of wildly extra-constitutional administrative agencies.
The emergence of a managerial class was aimed at eliminating the influence of owners and shareholders. Much of the industry that has grown up around managerial processes, “strategy”, consulting and business school studies is just an accumulation of additional managerial costs and expanded managerial staffing, with no consumer value.
Without the hierarchical power of coercive government, policy-makers would have no policies to make, and there would be no wheeling and dealing with capital owners. The former would need to contribute to the economy rather than be a burden on it, and the latter would be strictly servants of consumers.
Friedrich Hayek believed that there will never be good money again until it is taken out of the hands of government. “All we can do is by some sly roundabout way introduce something that they can’t stop.”
As consumers of knowledge, we can no longer be passive. Knowing is a practice at which we can each improve our capability. Knowledge entrepreneurs are creating new ways of developing, diffusing, and using knowledge, and devices are giving us new means of access and engagement.
Don’t believe the numbers—at least not the government’s numbers. Official measurements of gross domestic product and productivity are also massively understated.
Capitalism is best thought of as a system of co-ordination, bringing consumer demand and producer output into alignment. It’s a system of dynamic efficiency, using feedback to get better and better at service. Entrepreneurs who follow the collaboration metaphor are the ones who will succeed.
I learned that a sense of entitlement is a burden. People who believe themselves above something, or entitled to something more because of past achievements, will find that new opportunities slip away.
Every developed nation in the world at one time went through the transformation from predominantly informal, extralegal ownership to a formal, unified legal property system. In the West we’ve forgotten that creating this system is also what allowed people everywhere to leverage property into wealth.
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