Capitalism

This article discusses the Progressive reformers, their view of Liberty and its role in society, and their mixed success.

Given these realities of state power and economic intervention, the only reasonable position for those who cherish freedom and prosperity is the radical one: a pure market economy.

In this week‘s Friday Philosophy, Dr. David Gordon looks at Allen Wood‘s attempts to salvage Marx‘s theory of exploitation. While Dr. Gordon acknowledges Allen‘s expertise in 19th-century philosophy, he notes that Allen truly misunderstands economics.

The challenge facing economic science is to counter the reactionary counterrevolution by states and governments that smother voluntary cooperation and free human interaction based on liberty. The chains must be thrown off in favor of the libertarian ideal of an anarchocapitalist system. 

The author James Lindsay has gotten mileage by introducing the phrase “Woke Right” to describe certain ideological elements associated with the MAGA movement. The “woke” concepts coming from the left, however, are not the same, structurally speaking, as what conservatives are saying.

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.