Division Of Labor

According to the Harvard Gazette, “Esther Duflo, a development economist at Massachusetts Institute of Technology (MIT), said during the year’s first Tanner Lecture on Wednesday that the world’s rich prosper in part because they have less freedom to choose how to attain basic…

Continuing our post from yesterday, in which Ludwig von Mises explained why government interventionism based on redistribution of wealth (including deficit spending) cannot lastingly increase the welfare of the masses, today we will look…