Intellectual freedom cannot exist without political freedom; political freedom cannot exist without economic freedom; a free mind and a free market are corollaries. – AYN RAND
Man’s nature makes him need wealth; his simplest perceptions make him desire it; the problem, they held, is to produce it. Economic theory, therefore, could take for granted the desire to consume, and focus on the ways and means by which production might be increased.
George Orwell famously coined the term “newspeak” in his 1949 anti-utopian futuristic novel, 1984, in which commonsense words were reversed in their meaning. Biden’s latest executive order provides a modern illustration of “newspeak” in the 21st century.
The only real monopoly is the government itself or a business given a special privilege by the government.
A company that turned its ESG report into an opportunity to proudly defend its industry and itself.
Jobs has spent a lifetime living by Roark’s own singular rulebook not as the designer of buildings, but as the architect of a new approach to technology.
“Regulation doesn’t just kill existing businesses,” says Carney. “It keeps new businesses from ever entering.”
Last week, I debunked three myths about capitalism. Here are four more…
Bitcoin adoption should be a free choice – neither banned nor compelled by law.
Because capitalism is voluntary and consumers have choices, the only way capitalists can get rich is to offer us something that we believe is better than we had before.
To use Keynesian terms, employment in the United States is not suffering from an “aggregate demand” failure. There are plenty of job openings; it is a failure of a good number of employable people not being interested in filling the slots employers would like to fill. Why?
Here’s Why He’s Right.
Inflation is a form of tax, under which portions of the citizenry’s income and wealth is taken from them through reducing the real buying power of money held by all those in the private sector and the general public.
Keynes used the “technique of obscure arguments followed by clear and triumphant conclusions.”
Because a politically connected businessmen wants more for himself, and politicians have the power to demand that developers kiss their rings, Edgewater’s dump is still a dump.
Government handouts encourage dependence and create labor shortages.
Though the Communist Manifesto, even in its own time, failed completely as an economic guidebook, it did succeed thoroughly in instilling class hatred. This hatred, unfortunately, has been its most permanent contribution.
We should not only allow global capitalism; we should welcome it and foster it in every way possible. It is time to rephrase Karl Marx: Workers of the world unite for global capitalism; you have nothing to lose but your poverty.
Mariana Mazzucato’s and Joe Biden’s political missions and big economic central plans require all of us to give up our own individual and personal plans to be straightjacketed into their compulsory designs for us.
Why CEOs go “woke”—and why they shouldn’t.
Menger’s Distinct Approach to Economic Thinking
One of the innumerable destructive consequences of an almost 250-year-old error in economic theory made by Adam Smith.
The false standard of equity leads to bad outcomes for everyone. The standard should not be equity but justice.
The Hazards of Embracing Environmental, Social and Governance (ESG) Goals
Socialist experiments failed in Sweden, Israel, India, Great Britain, Afghanistan, Syria, Algeria, Cambodia, Somalia, etc. There are no socialist success stories.
If history (especially more recent history) is a guide, U.S. equity gains over the next two years of full Democratic control will be inferior, a result that is more probable given that the party is currently more anti-business, anti-profit, and anti-capitalist than at any other time since 1970.
Producing and consuming fast fashion and other sweatshop products is a win-win scenario for human flourishing: consumers get inexpensive products, workers and their employers prosper, working conditions improve and pollution diminishes, the planet gets greener, and the brands profit.
President Biden’s “closed shop” labor union agenda would rob all those working for a living the liberty and latitude to do so freely and of their own choosing.
Whenever accusations of “bubbles” are thrown about, I think of these extraordinary stories and the grand selection mechanism that is financial markets.
While the welfare state cannot be transformed into a free-market system overnight, businesspeople can help by speaking up (in forums open to them) when restrictions on freedom of business are being proposed by government and other groups.
It should never be illegal to do honest business in America, even if that means a transaction isn’t denominated in U.S. dollars.
There are few works in the history of economics that may be truly considered “revolutionary” and “path-breaking,” in its starting premises, its logic, and its implications. But one that is in this category is Carl Menger’s Grundsätze der Volkswirtschaftsliche, his Principles of Economics in its English translation, which marks this year the 150th anniversary of its publication in 1871.
If there is a lesson to be learned from the economic lockdowns governments around the world started imposing on businesses in an attempt to contain the coronavirus pandemic, it is the importance of independence.
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