Articles by Matt McCaffrey
Trader gestures in front of his screens during a bond auction on a trading floor in Madrid

The Market Will Solve It

When trying to explain real-world problems, economists always say things like: The market will sort it out. Or, the market will decide what's best.

Where are the Real Entrepreneurs?

Everyone likes the word entrepreneur. Its precise definition is elusive, but even if we as Americans don't really know what entrepreneurship means, we know that we like it, and we want more of it. After all, the word evokes all the popular clichés that are so prominent in our culture, especially around election time: the American Spirit, the struggle to overcome, innovate, inspire positive social change, and so on. Indeed, entrepreneurship has become a catch-all in these times...
Occupy Denver protesters rally in front of the U.S. Federal Reserve bank in downtown Denver

Entrepreneurs and Investment: Past, Present … Future?

Whenever economists discuss the “big picture”— where we’ve come from, where we’re going— someone is bound to bring up Joseph Schumpeter. Schumpeter (1883-1950) was, in fact, a master of thinking about the “big picture,” most famously in his writings on economic development, entrepreneurship, and the past and future of capitalist societies.