production

Falling Prices Enable the Savings That Drive Progress

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Elon Musk and Jeff Bezos can’t realistically spend all the wealth they’ve created. That’s why both epitomize progress. It’s not just that they’ve transformed how we live, it’s that their inability to spend the abundant fruits of their commercial genius means that what they don’t spend will be continuously directed to entrepreneurs and businesses […]

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The Global Payments System Is a Miracle…But It’s Not Cheap

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Products buy products. If this basic truth were understood, a lot of awful legislation and rulemaking could be avoided. Which is why it’s important to press on the point. When you walk into a small neighborhood store, to a Walmart or Target, or into a restaurant in Rome, what you get is an exchange

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