Month: April 2020

Einstein’s Ph.D. Thesis

Einstein submitted his PhD thesis in 1905, the “miracle year” (Annus Mirabilis) in which he also published four papers on various matters: Photoelectric effect Brownian motion Special relativity Mass–energy equivalence It was for his discovery of the photoelectric effect that… Read More ›

Culling Improves the Herd

Culling is a well-known phenomenon in biology — the process of selective removal of weaker individuals from the breeding stock. Although not done deliberately, something similar happens in markets. Entities that are “weak” are selected out of the marketplace, and… Read More ›

Two Kinds of Capitalism

Ayn Rand is thoroughly despised in leftist circles. The leftists are justifiably incensed because Rand tirelessly criticized government control of the economy, while the coercive power of the government is the primary instrument leftists rely upon to achieve their Utopian… Read More ›