China rose from poverty after the Mao years only because its political leadership embraced private property and a market economy. Unfortunately, today the Communist leadership is moving back to socialism.
To progressive elites, the state (at least one run by progressives) is omniscient and all-powerful. To anyone with understanding, the state is an entity usually run by gangsters.
The seventy-fifth-anniversary celebration of the British National Health Service masked the real failures of this system, one that only can become worse over time.
David Gordon continues his analysis of Graham Priest’s book, Capitalism: Its Nature and Its Replacement. While Priest might not understand either Marxism or capitalism, his book has useful insights.
Following the collapse of the USSR, many socialists pinned their hopes upon the development of a "market socialism" that would be economically efficient and create equality. Marxist philosopher G.A. Cohen wisely dissented.
While Graham Priest seems to have "rescued" Marxism from the labor theory of value, he cannot rescue Marxism itself.
The East German secret police, the Stasi, developed the art of mass surveillance using pre-digital methods. Modern tech now makes the job a lot easier.
The possible bankruptcy of Thames Water Company in Great Britain brings to mind the heady days 40 years ago when Margaret Thatcher's government was privatizing state-owned enterprises, including TW. Not all privatization stories have happy endings.
Despite what many elites believe, AI can do many things, but it cannot successfully plan an economy. It lacks the intelligence of an entrepreneur.
In recent decades a new type of mercantilist enterprise has become key in many federal programs. These are the nonprofit foundations that help create government pilot programs, fund pro-regime media projects, and work with regimes to accomplish ideological projects hatched by the ruling class.
