Why did so many people turn their backs on the Western ideal of democratic, limited government and a market economy based on private ownership of the means of production?
On this 30th anniversary of the fall of the Berlin Wall, we should remember all that it represented as a symbol of tyranny under which the individual was marked with the label: property of the state.
To consume, men must first produce.
Max Weber’s essay on “Politics as a Vocation” reinforces all the reasons why it is important to restrict the powers of government, while enabling those in government to secure each individual’s right to their life, liberty and honestly acquired property.
How and why governments have used the power of issuing official travel documents as a means of restricting the free movement of people during the last 200 years.
Say’s Law of Markets already included the answers to the questions against free markets with which the Keynesians attempted to challenge the efficacy of capitalism a century later.
The difference between Donald Trump and Xi Jinping is that Donald cannot command companies doing business with the NFL to stop doing so until every football player who has kneeled during the national anthem publicly apologize for “offending the American people.” China can.
Interventions inevitably generate imbalances in the market that will force the government to either repeal the existing interventions or extend them in the futile attempt to use new interventions to compensate for the distortions its prior interventions have created, until finally the market has been supplanted by the command economy through a process of incremental expansion of the regulations and controls.
Steven Kates refutes Keynes’s caricature of the classical economists. Ultimately it is always goods that are traded for goods. Say’s Law, properly understood, explains both what causes unemployment and how to solve it..
Ayn Rand’s writings brought about an ethical and practical revolution in my thinking