What “Capitalism” Really Means
Big business, the target of the most fanatic attacks by the so-called leftists, produces almost exclusively to satisfy the wants of the masses. In fact, serving the masses is the main occupation of the “capitalist.”
Big business, the target of the most fanatic attacks by the so-called leftists, produces almost exclusively to satisfy the wants of the masses. In fact, serving the masses is the main occupation of the “capitalist.”
More detailed discussion is here.
For data on the relationship between real gross private domestic private investment and employment see below
(HT to Danny Sanchez).
In case you missed it (I did the first time around so a HT Pete Boettke and Jeff Tucker): Art Carden at Forbes on “The Greatest Thinker You’ve Never Read: Ludwig von Mises.”
Highlights:
[This article is excerpted from volume 2, chapter 12 of An Austrian Perspective on the History of Economic Thought (1995). An MP3 audio file of this chapter, narrated by Jeff Riggenbach, is available for download.]
[The Bastiat Collection (2011); originally from the second series of Economic Sophisms (1848)]
This young Austrian is having quite a year. In July he won LvMI’s 2012 Douglas E. French Prize, “for the student who emerges from the Mises University oral examinations with the best record, as chosen by the examining committee.” And just last week, he won the Society for the Development of Austrian Economics’ 2012 Carl Menger Essay Contest for his “The Long Depression of 1873-1879: An Austrian Examination”. Fantastic work, Patch!