"Economic development" schemes, like those used to attract big corporate headquarters to one's city, are really just a type of governmental central planning.
If the Chinese sell us stuff and then "hoard" the money we pay them, that increases the value of the dollars we continue to hold here in the US, while also leaving us with more stuff to sell elsewhere.
"Sure, maybe capitalism produces more goods more affordably," the Marxists say, "but it corrupts our souls." In this 90-minute lecture, English professor Paul Cantor discusses how culture has become the "last frontier" of Marxism.
