Capitalism is denounced as “an anarchy of production,” a chaos ruled by “exploiters,” “robber barons,” and “profiteers,” who “coldly,” “calculatingly,” “heartlessly,” and “greedily” consume the efforts and destroy the lives of the broad masses of average, innocent people.
Ludwig Von Mises’s devastating critique of why a socialist economic system must always be inferior to capitalism.
The development of all the institutional features of capitalism is well illustrated by the economic history of the United States.
The socialist system, however, forbids this fundamental freedom to choose one’s own career. Under socialist conditions, there is only one economic authority, and it has the right to determine all matters concerning production. One of the characteristic features of our...
Economic progress is the leading manifestation of yet another major institutional feature of capitalism: the harmony of the rational self-interests of all men, in which the success of each promotes the well-being of all.
In a capitalist society, there is continuous mobility—poor people becoming rich and the descendants of those rich people losing their wealth and becoming poor.
It is no exaggeration to say I have learned more about the science of economics from George Reisman than from all other economists combined.
The idea of government as a paternal authority, as a guardian for everybody, is the idea of those who favor socialism.
The existence of freedom under laissez-faire capitalism requires the existence of government.
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.
The greatest era of capitalist development—the last two centuries—has taken place under the ongoing cultural influence of the philosophy of the Enlightenment.
In spite of all its benefits, capitalism has been furiously attacked and criticized. It is necessary that we understand the origin of this antipathy.
Economics belongs alongside mathematics, natural science, history, philosophy, and the humanities as an integral part of a liberal education.
The mere fact that you are living today is proof that capitalism has succeeded, whether or not you consider your own life very valuable.
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.
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.
It is a mistake to do business in authoritarian countries in the first place due to the political risk it poses.
Passengers aren’t willing to pay for it.
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.”
How is the new stakeholderism different? Unlike the old stakeholderism, it is mandatory.
“Poetry of work” is worth pursuing. It gives us purpose—and it gives us happiness.
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.
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.
Those dollar bills in your pocket came from bank deposits, created out of thin air.