Economic progress is the leading manifestation of yet another major institutional feature of capitalism: the harmony of the rational self-interests of all men, in which the success of each promotes the well-being of all.
In a capitalist society, there is continuous mobility—poor people becoming rich and the descendants of those rich people losing their wealth and becoming poor.
The Chinese were long used to authoritarian social controls, but popular anger exploded at the imposition of brutal totalitarian restrictions.
Using ESG investing to replace them harms both people and the environment, as there are no readily available alternatives for the 80% of the world’s energy that currently comes from oil, coal, and natural gas.
It is no exaggeration to say I have learned more about the science of economics from George Reisman than from all other economists combined.
Europe’s energy shortages – exacerbated by Russia’s invasion of Ukraine – were originally caused by low wind resources, increased demand from COVID lockdowns, and cut backs of natural gas by Russia. Despite putting Europeans in energy poverty, the EU and UK are keeping to their energy transition rushing into wind and solar power, rather than using domestically produced oil, natural gas, and coal.
The WHO’s staff are comfortable with ensuring the people they were charged to support are increasingly impoverished and their rights and health autonomy removed. They are not just resigned to the abandonment of basic public health principles and ethics, but actively working to undermine them.
The idea of government as a paternal authority, as a guardian for everybody, is the idea of those who favor socialism.
The existence of freedom under laissez-faire capitalism requires the existence of government.
CAPITALISM REVIEW