iPhones would never have been created in a centrally planned economy where the government regulates the prices, from CEO pay to those of products.
This escape from poverty originated in Western Europe in the eighteenth and nineteenth centuries with the coming of the Industrial Revolution and the freeing of men and markets from the heavy-handed regulations and commercial restrictions of government.
According to the authoritative “Black Book of Communism,” an estimated 65 million Chinese died as a result of Mao’s repeated, merciless attempts to create a new “socialist” China.
Your life is in your own hands.
While often criticizing government for curtailing our freedom instead of protecting it and businesspeople (or others) for failing to act ethically, I want to focus on the positive in my last post of the year.
It is time to take the Christ out of Christmas, and turn the holiday into a guiltlessly egoistic, pro-reason, this-worldly, commercial celebration.
Free banking money guru George Selgin opines.
The nightmare scenario is that once again tax cuts and deregulation take the blame, allowing Bernie Sanders or a socialist candidate to ride another populist wave, only this one headed far left, into the White House of 2020.
Deregulate the taxi industry.
The environmentalist and other activist leaders concentrate on reversing human progress and diminishing human well-being as much as possible.
Truly free trade can only take place in free markets, not in the prevailing mixed economies where governments pick favored trading partners
Adam Smith on Free Trade, Crony Capitalism, and the Benefits from Commercial Society: Economic Ideas
Adam Smith’s central contribution to economic understanding was surely his demonstration that under an institutional arrangement of individual liberty, property rights, and voluntary exchange the self-interested conduct of market participants could be shown to be consistent with a general betterment of the human condition.
Who were the towering heroes in both Great Britain and the United States responsible for so markedly improving human living conditions?
Those countries that embrace free trade with new technologies stand to reap great rewards. Those who do not, and revert to trade protectionism, could experience economic recession and monetary adversity accompanied by serious social and financial upheaval.
The war on cash is a sign that central banks may see a dangerously deteriorating situation, one that has led to a feeling of desperation by governments and a wish to control the wealth of citizens.