Economic realities mean the socialist state would need to utilize the same method of discounting wages as capitalists do. The only difference is that under socialism, bureaucrats would do the "exploitation."
Eurozone unemployment would be close to 11 percent if we used the same calculation as the United States.
It's increasingly clear two things are going on: leftists are very interested in taking their rioting and looting far beyond city limits, and government police are not interested in doing much about it.
The best social policy is one that supports job creation and rising wages. Entitlements do not make a society more prosperous, and ultimately drive it to stagnation.
The best social policy is one that supports job creation and rising wages. Entitlements do not make a society more prosperous, and ultimately drive it to stagnation.
So far, the United States is leading Europe in employment improvement, but the full recovery is extremely far away.
So far, the United States is leading Europe in employment improvement, but the full recovery is extremely far away.
The highly regulated, protectionist Japanese economy, and an overall collectivist culture, leaves little room for flexibility in executive pay. This makes Japanese businesses less competitive, and work life more miserable.
A just scheme for reparations requires us to identify specific victims. But current calls for reparations do no such thing. Also, the British economy was not built on slavery, as some now claim.
Hunter Hastings joins Jeff Deist with great insights into the social benefits of profit vs. interest, entrepreneurial risk, progressing and retrogressing economies, and the bunkum known as the "Paradox of Saving." They focus on Chapter 8 of Rothbard's Man, Economy, and State.
