The exclusion of free initiative and individual responsibility, on which the successes of private enterprise depend, constitutes the most serious menace to socialist economic organization.
Voice of Capitalism
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Mariana Mazzucato’s and Joe Biden’s political missions and big economic central plans require all of us to give up our own individual and personal plans to be straightjacketed into their compulsory designs for us.
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 CEOs go “woke”—and why they shouldn’t.
Menger’s Distinct Approach to Economic Thinking
“Poetry of work” is worth pursuing. It gives us purpose—and it gives us happiness.
One of the innumerable destructive consequences of an almost 250-year-old error in economic theory made by Adam Smith.
The false standard of equity leads to bad outcomes for everyone. The standard should not be equity but justice.
The Hazards of Embracing Environmental, Social and Governance (ESG) Goals
Socialist experiments failed in Sweden, Israel, India, Great Britain, Afghanistan, Syria, Algeria, Cambodia, Somalia, etc. There are no socialist success stories.
If history (especially more recent history) is a guide, U.S. equity gains over the next two years of full Democratic control will be inferior, a result that is more probable given that the party is currently more anti-business, anti-profit, and anti-capitalist than at any other time since 1970.
Producing and consuming fast fashion and other sweatshop products is a win-win scenario for human flourishing: consumers get inexpensive products, workers and their employers prosper, working conditions improve and pollution diminishes, the planet gets greener, and the brands profit.
President Biden’s “closed shop” labor union agenda would rob all those working for a living the liberty and latitude to do so freely and of their own choosing.
Whenever accusations of “bubbles” are thrown about, I think of these extraordinary stories and the grand selection mechanism that is financial markets.
While the welfare state cannot be transformed into a free-market system overnight, businesspeople can help by speaking up (in forums open to them) when restrictions on freedom of business are being proposed by government and other groups.
It should never be illegal to do honest business in America, even if that means a transaction isn’t denominated in U.S. dollars.
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.
If there is a lesson to be learned from the economic lockdowns governments around the world started imposing on businesses in an attempt to contain the coronavirus pandemic, it is the importance of independence.
The Economics, Politics and Morality of Fiat Money: An Interview with Pro-Capitalist Economist Raymond Niles
Professor Niles discusses the economic, political and moral aspects of the U.S. dollar, inflation, gold standard, fiat, money and legal tender laws.
It is difficult to see the difference between an actual free market and the interventionist system under which we live because so many across the political spectrum refer to ours as a “capitalist” society.
Altruism is not the only moral code; there is an alternative that facilitates long-term profit maximization.
I save money by investing in passive investments funds and exchange-traded funds that don’t charge fat fees. They grow our economy without misleading people about “sustainability.”