The restaurant industry has suffered enormously from the pandemic and government restrictions.
The profit and loss system provides quick feedback on the quality of innovation.
Barriers to entrepreneurship and innovation are significant in Canada.
In a $19 trillion economy, the loss of a $70 billion industry just isn’t that big a deal.
You get technological breakthroughs when trying to solve problems, often problems found in previous technology.
Monday morning I was in class teaching the “Coase solution” to externalities problems, which is named after its discoverer, Ronald Coase, the Nobelist economist and one of very few humans ever to publish a book in his second century.