Post-Keynesians believe that capitalism is internally unstable, leading to necessary intervention by the central bank. Austrians see that as backward reasoning, as policies by the central bank to create credit from nothing is the problem.
The reality of socialism is that it politicizes life entirely. How that is supposed to improve quality of life remains a mystery.
Post-Keynesians believe that capitalism is internally unstable, leading to necessary intervention by the central bank. Austrians see that as backward reasoning, as policies by the central bank to create credit from nothing is the problem
The reality of socialism is that it politicizes life entirely. How that is supposed to improve quality of life remains a mystery.
David Gordon continues his critical look at Jedediah Purdy's book, Two Cheers for Politics.
Before Steve Jobs and the iPhone, there was Malcolm McLean, inventor of the shipping container. McLean made the iPhone—and many other things—possible.
Patents lack a basis in natural rights; to the contrary, they may be a patent absurdity.
Professor Raico suggests that not only would the problem of alienation not be solved by socialism, but the substitution of socialism for a regime of private property in the means of production would shake the foundation of all the humanist values, which are linked to political and cultural freedom.
Critics claim the market economy engages in "planned obsolescence" that encourages throwing good products into landfills. In fact, activities that might seem wasteful are the best use of resources.
The New York Times claims that the "administrative state"—that is, governance by unelected bureaucrats—protects our country and enhances democracy.
