Capitalism

On this episode of Power and Market, Ryan, Connor, and Tho discuss the recent SCOTUS decisions as well as JD Vance's recent praise for the economic views of Alexander Hamilton.

How the Industrial Revolution and foreign investment made some nations rich while others stayed poor, closing with Mises’s defense of capitalism.

The crucial difference between physical “capital goods” and “capital” as an accounting concept, and how profit and loss, private property, and economic calculation steer production toward what consumers actually want.

Mises defends his use of the word: true liberalism is defined by private ownership of the means of production, and he explains why he keeps the name despite its distorted modern usage.

Mises's guided reading list of the essential works of liberal thought, from Hume, Smith, and Bentham onward, for readers who want to study the tradition in depth.

Mises argues that modern civilization rests on liberalism and capitalism, and can be destroyed only from within—by the spread of antiliberal ideas, not by any outside enemy.

Modern historians rarely have told the truth about the history of capitalism, and especially in the early days of the Industrial Revolution. It is time to set the record straight.

Modern historians rarely have told the truth about the history of capitalism, and especially in the early days of the Industrial Revolution. It is time to set the record straight.

According to AOC and Bernie Sanders, it is impossible for someone to obtain a billion dollars of income by any means beyond theft. How much of a mega-income is due to entrepreneurial profit and how much is a wealth transfer?

Thanks to the Fed’s creation of asset bubbles, the US economy is producing many billionaires. However, the savvy entrepreneur is becoming increasingly scarce.