The capitalist system was termed “capitalism” not by a friend of the system, but by an individual who considered it to be the worst of all historical systems, the greatest evil that had ever befallen mankind. That man was Karl Marx.
MARKETS
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
The Philosophical Foundations of Capitalism
The greatest era of capitalist development—the last two centuries—has taken place under the ongoing cultural influence of the philosophy of the Enlightenment.
Capitalism: Opposition from the Intellectuals (2 of 3)
In spite of all its benefits, capitalism has been furiously attacked and criticized. It is necessary that we understand the origin of this antipathy.
Capitalism: The Nature and Importance of Economics
Economics belongs alongside mathematics, natural science, history, philosophy, and the humanities as an integral part of a liberal education.
Capitalism: Mass Production and the Standard of Living (1 of 3)
The mere fact that you are living today is proof that capitalism has succeeded, whether or not you consider your own life very valuable.
Capitalism: Economics, the Division of Labor, and the Survival of Material Civilization
What makes the science of economics necessary and important is the fact that while human life and well-being depend on the production of wealth, and the production of wealth depends on the division of labor, the division of labor does not exist or function automatically.
Twitter Board’s “Poison Pill” Against Elon Musk Shortchanges Twitter Shareholders
Poison pills are more likely a defense of bad management than a defense of stockholders rights. They undermine the market for corporate control and, as a result, the value of stockholders’ investments.
The Ethics of Doing Business in Authoritarian Countries Like Putin’s Russia
It is a mistake to do business in authoritarian countries in the first place due to the political risk it poses.
Why Isn’t Air Travel More Comfortable When It Easily Could Be?
Passengers aren’t willing to pay for it.
Monetary Cancel Culture
Whether the bank sanctions hurt Putin or not, they will have far-reaching effects on many innocent people, and not only in Russia. To understand these effects, consider what happens when a bank account is “frozen.”
New “Stakeholder Capitalism” Means More Statism
How is the new stakeholderism different? Unlike the old stakeholderism, it is mandatory.
The Poetry of Work
“Poetry of work” is worth pursuing. It gives us purpose—and it gives us happiness.
How Government Regulation Makes Housing Unafforable
For a 1,000 square foot apartment—smaller than many cities allow without expensive variance permit processes—a developer would need to charge at least $2,750 per month just to break even.
Big Tech Firms Like Facebook, Amazon, and Google Are Not Monopolies
Meta (Facebook), Amazon, Apple, Alphabet (Google), and other Big Tech companies are not monopolies. They have achieved their dominance through competition. Success through competition is a part of competition.
Money From Nothing, Part 2
Those dollar bills in your pocket came from bank deposits, created out of thin air.
Money From Nothing
How does money come into existence today?
Americans Oppose Amy Klobuchar’s Assault on Big Tech
The American Innovation and Choice Online Act would erode the consumer welfare standard and move our antitrust model closer to those seen in communist China and parts of Europe.
Top 1% of U.S. Earners Hold an Unprecedented Portion of the Wealth
There’s nothing unfair about wealth disparity in a free market, but the economic divide caused by QE is a gross injustice.
Unmasking Inflation, Part 2
Is consumer price inflation transitory or persistent?
Is a Society without Money Possible or Desirable?
Those who advocate a world without money advocate an impossible fantasy where nobody would be incentivized to work and rights would be violated as a matter of course.
Unmasking Inflation
The Fed’s fixation on consumer prices disguises the real inflation rate.
Only ‘Antitrust’ Policy That’s Needed is Freedom of Entry
Antitrust blocks the competitive process. It does so by substituting the meager knowledge and imaginations of economists, lawyers, courts, bureaucrats, and politicians for the actual, creative head-to-head competition that occurs within markets.
False Profits
Record profits are not the sign of a resilient economy but an inflationary effect of reckless money creation
The Zombie Ship of Theseus: Bitcoin vs Gold
The current fiat monetary system is a zombified version of the original and Bitcoin is no answer to the perversion of a gold sound money system.
The Impact of Higher Inflation on US Asset Class Returns
Central banking “independence” from politics (fiscal profligacy) seems to be a thing of the past.
Elon Musk, Person of the Year, Radicalized by Lockdowns
Elon Musk has turned into a true American, a resistor, a revolutionary. His influence in business and philosophical outlook offers a real path forward. He deserves every congratulations for refusing to go along with ruling-class ideology and instead demand that most essential thing, the freedom to trade, speak, run a business, and innovate without government interference.
The Virtue of Business
Instead of disdain and condemnation, businesses and businesspeople deserve our gratitude.
The Virtuous Circle of Profits and People
It’s mistaken to think that pursuing profits harms people. Profit-seeking by business does not harm but rather benefits people, beyond its owners.
What Economic Advice Would You Give to a Future King?
Carl Menger’s Free Market Advice to an Austrian Crown Prince
Can the Supply Chain Explain the Rise of Inflation?
It is more convenient for the government to argue that inflation is due to supply-chain shocks or scapegoats (such as evil corporations) than admitting it is of their own doing.
What Money Is, and What It Isn’t
A Three-Pronged Blunder, or, what Money is, and what it isn’t.
The Anti-Capitalist Mentality: “Anticommunism” versus Capitalism (Part 5 of 5)
What these self-styled “anticommunist liberals” are fighting against is not communism as such, but a communist system in which they themselves are not at the helm.
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