Ep. 474: Freedom with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Distinguishing Between the Marginal and Average Benefits
How do you know that the marginal benefit is greater than zero? The average benefit may be positive on the whole society. Henry Ford had plenty of incentive to do it without the government subsidizing. Nobody can set forth a hard and fast line on what government should or should not do in concrete form.
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