Do Capitalists Produce Nothing?
"Without the capital accumulation of modern capitalism, people would not be living from paycheck to paycheck as workers, but from harvest to harvest as peasants."
"Without the capital accumulation of modern capitalism, people would not be living from paycheck to paycheck as workers, but from harvest to harvest as peasants."
Social cooperation among men — and this means the market — is what brings about civilization and it is what has brought about all the improvements in human conditions we are enjoying today.
There is no greater immorality than deep opposition to mankind per se, and environmentalism must be exposed as that kind of immoral and destructive creed. Only then will the party of mankind be able to take back our culture.
However, the serviceableness of the factors of production determines the prices paid for them, not interest.
"Holt, in effect, reasoned his way to libertarianism from his relentless, dogged analysis of what worked and didn't work in education, in the schoolroom."
The inherent risk of the marketplace does not establish the marketplace as something that needs to be regulated and harnessed. On the contrary, inherent risk defines the market.
Even students who already have a strong understanding of more advanced Austrian concepts should consider reading Hahn's Common Sense Economics, for it will strengthen their foundations in economic theory.
Above all, central planning allows a few who are the new elite to seek to control the total lives of the masses. It is this gigantic object lesson which brings the intellectual issues into focus.
Ayn Rand made the case for the freedom philosophy in the most aggressive manner possible, bless her. And, "capitalism" was a crucial element of that effort.
George's own attachment to the land tax, rightly critiqued by Rothbard, is a clear case of Rothbard's Law: the tendency of people to specialize in what they are worst at.