What we live under is a heavily regulated, managed and controlled interventionist-welfare state that operates not by free-market competition but political cronyism.
The philosophy of individualism is the foundation of a free society; it is the basis of a community of men that does not require or demand the sacrifice or enslavement of some for the one-sided benefits of others.
At the end of the day, the balance of payments always balances.
Marx’s critique of capitalism and capitalist society has shaped much of the social thinking in Western countries that led to the welfare state and extensive government intervention into economic affairs.
Indeed, democracy and freedom are frequently heralded as being synonyms. An important question, however, is, What do these concepts mean, and are they in fact synonymous?
Introduce government intervention into the market system, and monopoly becomes a social harm and an economic problem.