Capitalism

Market knowledge is generated in individual transactions and by entrepreneurial drive. No amount of technology can replace the market process.

To succeed, entrepreneurs must demonstrate superior foresight and judgment, and practice continuous dynamic improvement in their assembly and reassembly of assets to serve the consumer.

To succeed, entrepreneurs must demonstrate superior foresight and judgment, and practice continuous dynamic improvement in their assembly and reassembly of assets to serve the consumer.

It is true that socialism and interventionism have not yet succeeded in completely eliminating capitalism. If they had, we would rediscover the meaning of hunger on a massive scale.

Every economic system is a mixture of market action and state control. The Marxist strategy is to blame every ill caused by state intervention on capitalism. 

Every economic system is a mixture of market action and state control. The Marxist strategy is to blame every ill caused by state intervention on capitalism. 

Without a monopolist central bank, market forces would restrain the issuance of bank notes. But once central banks monopolize money creation, wealth is systematically transferred to the central bank and the privileged few who are favored by the state.

Henry David Thoreau left behind many great admonitions. Alas, philosophical gems are not legal tender when rent is due.

In order to produce capital goods, and hence more consumer goods, we must first forego current consumption. That is, we must save now to have more later.

The saddest aspect of this economic ignorance is that these evangelicals have completely ignored the real reductions in poverty rates in the past forty years, reductions that are due to liberalizing economies that once were in socialist straitjackets.