Economics

The “Fortune of the Commons”

Why are there still wild blueberries in the fields held in common?

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The Legacy of Karl Marx

Though the Communist Manifesto, even in its own time, failed completely as an economic guidebook, it did succeed thoroughly in instilling class hatred. This hatred, unfortunately, has been its most permanent contribution.

Who is Carl Menger?

There are few works in the history of economics that may be truly considered “revolutionary” and “path-breaking,” in its starting premises, its logic, and its implications. But one that is in this category is Carl Menger’s Grundsätze der Volkswirtschaftsliche, his Principles of Economics in its English translation, which marks this year the 150th anniversary of its publication in 1871.  

Let a Billion Preferences Bloom

There isn’t much room for diversity and dissent, however, when everything is decided politically. Mass customization and diversity are commercial society’s virtues. Mass regimentation and uniformity are political society’s vices. The stark contrast is clear in the proximity between Halloween and Election Day.

The Myth of the Failure of Capitalism

The nearly universal opinion expressed these days is that the economic crisis of recent years marks the end of capitalism. Capitalism allegedly has failed, has proven itself incapable of solving economic problems, and so mankind has no alternative, if it is to survive, than to make the transition to a planned economy, to socialism.

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