The mere fact that you are living today is proof that capitalism has succeeded, whether or not you consider your own life very valuable.
Economics
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.
Why Isn’t Air Travel More Comfortable When It Easily Could Be?
Passengers aren’t willing to pay for it.
Voice of Capitalism
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Costs Must Be Weighed Against Benefits: The Economics of Dealing with Pandemics
What about the benefits and costs of dealing with the COVID-19 pandemic?
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.
Having a Right To Work and a Right To Profit
The work furnished by the Government was done at the expense of labour, paid for by the tax-payer.
Foreign Welfare at Taxpayer Expense
Much is hoped from the future prosperity of Algeria; be it so. But the drain to which France is being subjected ought not to be kept entirely out of sight.
Luxury and Frugality
On the myth that “it is the superfluity of the rich which makes bread for the poor.”
State Security of Loans
It is an injustice to the tax-payers, who are made to pay a debt which is no concern of theirs.
The Curse of Automation
“A curse on machines! Every year, their increasing power devotes millions of workmen to pauperism, by depriving them of work, and therefore of wages and bread. A curse on machines!”
The Illusory “Benefits” of Restricting Trade and Industry
Some persons consider that plunder is perfectly justifiable, if only sanctioned by law.
The Importance of the Middleman
They would gladly suppress the capitalist, the banker, the speculator, the projector, the merchant, and the trader, accusing them of interposing between production and consumption, to extort from both, without giving either anything in return.
The Loss To The Economy From Public Works
The State opens a road, builds a palace, straightens a street, cuts a canal; and so gives work to certain workmen — this is what is seen: but it deprives certain other workmen of work, and this is what is not seen.
Ought the State to Support the Arts?
If they take one direction, it is only because they have been diverted from another.
No Better Investment Than Taxes?
It is nonsense to say that the Government officer will spend these hundred sous to the great profit of national labour; the thief would do the same; and so would James B., if he had not been stopped on the road by the extra-legal parasite, nor by the lawful sponger.
Disaggregating Keynes Demonstrates Macro Delusions
Keynesian Economics has continued to dominate and hold sway over the way the vast majority of economists think about and analyze the nature of economy-wide fluctuations in employment and output.
Disbanding The Troops
You do not see that to dismiss a hundred thousand soldiers is not to do away with a million of money, but to return it to the tax-payers.
That Which is Seen, and That Which is Not Seen
What would become of the glass makers, if nobody ever broke windows?
The Politics and Economics of Plato, Aristotle, and the Ancient Greeks
In Aristotle, we find a more subtle and sophisticated understanding of some economic themes than in Plato. While Aristotle’s answers were incomplete and often misdirected, as well as incorrect, he at least was among the first to ask the types of questions that centuries later became part of the heart of economic analysis and understanding.
Is the Amazon Forest Really a Market Failure?
The vast majority of Amazonian deforestation happens on land directly controlled by Brazilian states or the federal government.
No Recovery Without Production
“Saving lives” is inseparable from saving livelihoods.
A May Day Remembrance
The inescapable conclusion of the Mises-Hayek argument about socialist calculation is that an efficient socialist society cannot be designed.
Supply-Side Panglossians are Not Objective
Capitalism (and economic analysis) requires reason, not faith, facts, not what feels good. The supply side is the right side, but the Pollyannas must cease their bias and at least try becoming more objective. They must defend the right policies, not merely those imposed by politicians they deem to be in the right because they are on the right.