Edmund Phelps on Egalitarianism
The classical liberal economist Edmund Phelps wants government to aid poor people, but he clearly is not an egalitarian. His philosophy would be unacceptable to today's "woke" egalitarians.
The classical liberal economist Edmund Phelps wants government to aid poor people, but he clearly is not an egalitarian. His philosophy would be unacceptable to today's "woke" egalitarians.
Because of inflation and a lack of a savings ethic, Americans are less prepared for retirement than ever. The numbers are discouraging.
Because of inflation and a lack of a savings ethic, Americans are less prepared for retirement than ever. The numbers are discouraging.
The standard line from progressives is that free markets usually fail in developing countries. The economic numbers tell a much different story.
Hyperinflation? Yes, it can happen here, and the more officials deny hyperinflation is possible, the more they create the conditions that causes it.
Turkey's economy is reeling under inflation rates likely reaching 170 percent. Not surprisingly, the worst of it is felt by regular people just trying to make a living.
Turkey's economy is reeling under inflation rates likely reaching 170 percent. Not surprisingly, the worst of it is felt by regular people just trying to make a living.
The modern progressive narratives claim that the wealth of the West and especially of the USA was built upon the backs of slaves. In fact, slavery retarded economic growth.
Entrepreneurship is the key to real development, but cultural attitudes are often a significant barrier to entrepreneurship in the developing world.
The New York Times recently interviewed economist Herman Daly, who insists that economic growth is ecologically destructive. There is much more to the story.