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The Science and Art of Economics with Peter Boettke & Rosolino Candela, Pt. 2

Hayek Program Podcast

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What's Your Alternative History About the Economy of Scale?

i think we have to draw a distinction between entrepreneurship within a particular context and entrapener ship over a set of rules. The economies of scale point, in its over simplified randition, simply says, oh, if you double your capital investments, you'll yoll double your output. But capital needs to be allicated to its most valued uses. i said the individual most responsible for the error of globalization we see to day is malcolm mc lean. He pioneered modern containerization. And his story's phenomenal. Here's an individual no college education, barely had a high school education, but he was alert to a profit opportunity. I'm sure people listening have heard of steve jobs

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