Corporate cost cutting sets the stage for future gains in profitability and productivity, and there is no resulting "paradox of thrift" requiring easy money policies to "fix" the problem.
In his new book, conservative author R.R. Reno thinks that openness is not a strong enough principle for a society to rally behind. Unfortunately, his answer is to get behind the state.
The Left has often claimed that privatization is a neoliberal scam. But actual experience suggests privatization schemes have improved access to goods and services while raising productivity and real incomes.
The aims of the WEF are not to plan every aspect of production and thus to direct all individual activity. Rather, the goal is to limit the possibilities for individual activity—by dint of squeezing out industries and producers within industries from the economy.
The idea of ordinary people enjoying luxuries and "unnecessary" items has long troubled intellectuals and aristocrats. But thanks to capitalism, ordinary people can now enjoy the basic pleasures the ruling classes have long seized for their own.
Though he was generally a Ricardian, John Stuart Mill thought that the main obstacle to socialism is that people might not yet be civilized enough to put it into practice.
