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Will Trump’s “State Capitalism … a Hybrid Between Socialism and Capitalism” Make America Great Again?

To be clear, Trump is not pursuing traditional socialism, where the means of production are owned by the state. Nor is he trying to copy exactly China’s state capitalism—but he is applying its methods with what the Journal calls “American characteristics.”

Economics 101

Many people think economics is about businesses and financial institutions but economics is much broader than that. Economic theory makes a valuable contribution whenever there are costs and benefits of any human action. Take dating. Suppose you see a fat, old, ugly,...

Only A Gold Dollar Will End Deficits

Only A Gold Dollar Will End Deficits

The United States government has had a budget deficit in almost every year since 1933. Repeated pledges to end the deficits have come to nothing. The latest pledge, President Clinton’s plan to eliminate the deficit by the year 2002, is only one more such empty...

“Buy American” Is Un-American

“Buy American” Is Un-American

Government interference with free trade is un-American. Sacrificing one’s standard of living in order to subsidize inefficient domestic producers is un-American. The tribal fear of foreigners is un-American. Resentment at others’ success is un-American. A patriotic American acts as a capitalist and an individualist: he buys the best, wherever it may be found.

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