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DEC 06 INDEX DEC 08
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from FEE (Foundation for Economic Education)
From Kleenex to Zippers: The Unpredictable Results of Entrepreneurs
The 1920s was a decade that taught us many lessons in economics—perhaps foremost among them is that cutting tax rates encouraged entrepreneurs to invest in a variety of revolutionary products, from radios to refrigerators. A corollary lesson, however, is also important: When entrepreneurs are turned loose and their property rights are protected, what they eventually produce can’t be predicted—even by them.
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from The Spokesman-Review
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