Marxism is seen by American and European intellectuals as being a sophisticated and legitimate set of theories that explains social problems in capitalist societies. Yet, the entire edifice of Marxism from “class conflict” to the Labor Theory of Value is nonsense.
The challenge facing economic science is to counter the states and governments that smother voluntary cooperation and free human interaction.
Honduras is one of the poorest countries in the Western Hemisphere, but the free city of Próspera, located just of the Honduras coast, is anything but poor. Here, private property and free markets are the norm and Bitcoin is legal tender. Of course, the socialists want it shut down.
As Joseph Schumpeter noted, markets need “creative destruction” to survive and advance. However, Europe‘s Digital Market Act (DMA)—while written to ostensibly protect competition—gives the digital economy uncreative destruction.
Murray Rothbard wrote that egalitarianism is a “revolt against nature.” Progressives claim that inequality harms society and is morally unacceptable, but in reality, it is necessary for division of labor, which enables social cooperation.
Totalitarianism is not compatible with a functioning economic system based upon free exchange and private property. Such regimes depend upon historicism and logical relativism.
Not long ago, Black Friday epitomized consumer frenzy.
Capitalism is characterized by the private ownership of capital, coming from Lockean homesteading principles, and not from state coercion and force.
Murray Rothbard wrote that egalitarianism is a “revolt against nature.” Progressives claim that inequality harms society and is morally unacceptable, but in reality, it is necessary for division of labor, which enables social cooperation.
As Joseph Schumpeter noted, markets need “creative destruction” to survive and advance. However, Europe‘s Digital Market Act (DMA)—while written to ostensibly protect competition—gives the digital economy uncreative destruction.
