Tag : Cafe Hayek

Written on Sep, 16, 2017 by in | Leave a comment

Souce: Cafe Hayek Contrary to popular myth, the so-called “robber barons” were reviled not by consumers because they raised prices but by competitors because they lowered prices. John D. Rockefeller drove the prices of kerosene and other products made from petroleum down. Cornelius Vanderbilt drove the price of steamboat transit down. A&P founder George Gilman, with help from George Huntington …

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Written on Aug, 23, 2017 by in | Leave a comment

Source (Cafe Hayek) The condition of freedom requires the courage to assume responsibility for one’s own actions and for the way one makes use of relevant knowledge, skill, and intelligibility to relate to others in mutually productive ways. Vincent Ostrom (1997), The Meaning of Democracy and the Vulnerabilities of Democracies.  

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