Since real savings enable the production of capital goods, obviously real savings are at the heart of the economic growth that raises people's living standards.
Henry Hazlitt's The Failure of the "New Economics" published in 1959, is still the best refutation of Keynesian economics to be found anywhere — sixty years later.
Anti-capitalists love to claim that consumers don't really have free choice — that advertisers and peers really dictate to others what they should buy. In truth, consumers choose freely, but use others to filter information and simplify the process.
Industrialization and capitalism finally freed us from the starvation and deprivation of endless centuries of subsistence living. Now socialists in Venezuela have managed to reverse centuries of progress.
Socialist regimes have long gone to great lengths to replace all the independent institutions of civil society with the omnipotence of the state in all things.
