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The Internet developed largely as a 'spontaneous order' without central co-ordination. Further development will increase the mobility of capital and labour and make tax collection more difficult. Attempts at self-regulation and government regulation are now under way but meddling is likely to be...
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While entrepreneurs benefit from unrestricted free entry into markets, they have a time-inconsistent incentive to lobby for government entry restrictions once they become successful. Bad political institutions yield to these demands, and growing barriers are placed on domestic and international...
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All countries have people with an entrepreneurial spirit, but in far too many of them their talent and drive lie fallow. We argue that the most fertile soil for the seeds of entrepreneurship consists of the freedom and informed discipline that characterize market economies. In markets, freedom...
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