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."
With new legalization measures coming to the ballot box, voters have the opportunity to take steps that would reduce the drive to make drugs stronger and more potent, and more deadly.
Why don't corporations just get bigger and bigger until they take over the whole economy? Unlike states, firms aren't necessarily better off as they get bigger.
What's a telltale sign of economic illiteracy? I'm starting to believe the worst is the claim that markets lead to monopoly and the accumulation of wealth in a few hands.
If Biden is elected, we will hear the same “redemption” storyline that was trumpeted when Obama replaced (temporarily) disgraced George W. Bush. The media will insist that Biden's inauguration purifies Uncle Sam.
Historically, Europeans had few qualms about conquering and enslaving other Europeans. This presents some problems for the narrative claiming that injustices committed by Europeans are motivated primarily by racism.
In a slave economy, slave owners seek technological innovations that make slave labor more productive. But they also place inefficient and artificial limits on innovations that might change the established social order.
Not all increases in money supply lead to inflation. A currency fully backed by a commodity like gold does not cause inflation like an increase in unbacked fiat money does.
