The market economy is the social system of the division of labor under private ownership of the means of production. "To assign to everybody his proper place in society is the task of the consumers. Their buying and abstention from buying is instrumental in determining each individual's social position."
As the economy moves into recession, we should understand how we got there and what is needed to bring about a quick and lasting recovery.
Governments are demanding there be "proportional" representation of women in professions that women historically have avoided. Those efforts will be unsuccessful.
The standard line from progressives is that free markets usually fail in developing countries. The economic numbers tell a much different story.
The Pilgrims tried socialism at Plymouth. After two years, they returned to private enterprise. Likewise, Israel was founded as a socialist state but has back turned toward free markets.
One place a price system manifests itself is the sports betting markets. The results are surprisingly accurate.
Europe is in crisis, thanks to its progressive leadership. Václav Klaus, former president of the Czech Republic, points out the problems and offers a remedy: free markets.
In presenting her economic plan, Liz Truss failed spectacularly on one thing: cutting spending. Otherwise, a "tax cut" is not a tax cut at all.
The standard line from progressives is that free markets usually fail in developing countries. The economic numbers tell a much different story.
One place a price system manifests itself is the sports betting markets. The results are surprisingly accurate.
