I'm a critic of the neoclassical school myself, but this has to be the most blatant strawman of neoclassical econ I've ever seen.

Happy to announce the formation of the new Entrepreneurial Judgment Society—a network of scholars dedicated to furthering the Judgment-based Approach (JBA) to entrepreneurship. 1/

I don't even know what this means. That a market can't emerge between collocated persons unless there's an overseer? Or that voluntary exchange is coerced upon us because we wouldn't trade otherwise? I mean, markets are inherently *intentional*, so in that sense they're not

Positive rights still don't exist.

Hayek practiced a version of methodological individualism that was NOT atomistic. But the "facts of the social sciences" are what people think and believe -- they are grounded in purposes and plans of actors. What he would call the "economic calculus" or "pure logic of choice".

Interesting: stronger intellectual property protection benefitted incumbents at the expense of potential entrants.

The illiterate screaming about illiteracy. Yes, money is only a medium of exchange. But debt matters. It doesn't matter what it's denominated in. The MMT refrain that national debt is just owing ourselves is nonsense, methodological holism gone awry. No, we don't owe it to

I'm super happy for China's progress, but anyone who knows its history understands its recent success as evidence for freer markets. Deng Xioping's open and reform period after Mao's disaster brought markets into China again, and pent-up entrepreneurial spirit started to

Overconfidence rising.....

Uh oh....

Do people still think we Austrians hate math? The Austrian critique of mainstream econ isn't math. It's that it's static and inhuman. It treats people as statistics, as utility functions, rather than as living, learning, changing beings. Yes, most good economists recognize

I'm biased, but this seems to me like a really important argument for the study of institutions and entrepreneurship moving forward. Scholars have so far under-appreciated the extent to which markets are governed by transaction platforms. For any looking for a topic to study,

I suspect virtually all business professors would do as poorly (including myself).

I have a new paper in the Independent Review entitled "When Is Corporate Social Responsibility Theft?" with @allenmendenhall and @siriterjesen. Probably my most controversial academic work so far, but I think it's an important conversation/debate to have. The thesis of the

Management History Division writes on LinkedIn about a recent paper of mine (co-authored with @mdpackard): "Back to the Future: Can Counterhistory Accelerate Theoretical Advancement in Management?"

Job displacement is the entire bull case for AI valuations. The vast majority of AI revenues will be a reallocation of dollars from human capital to compute. Humans will find other work that is uniquely suited for our skills, as we have done throughout history. Influencers

Just Out: Updated version of the "Chart of the Century" with data through June 2025. It should be noted that the consumer goods that have become more and more affordable over time -- e.g., cars, household furnishings, clothing, toys and TVs -- are either imported or subject to

So true

This seems plausible. But there's real value in owning assets that you use often. It's not just for the access. Scholars have found we define ourselves, to some significant extent, by the things we buy. For example, some of us have a strong need for uniqueness, to be our own