
No Free Lunch — Confronting Economic Fallacies with Peter Boettke & Caleb Fuller
Hayek Program Podcast
00:00
Idle Resources Aren't Idiot at All
In a capitalist economy, productive resources are owned privately. The decision to either withhold or place that resource into the market in a capitalist economy is guided ultimately by profit and loss signals. Even seemingly idle resources actually do have an opportunity cost associated with pressing those into use. policies aimed at getting idle resources off the side lines oftentimes prolong the dislocation that put them there in the first place.
Transcript
Play full episode