For centuries, entrepreneurial talents in China were diverted to military wars, political struggles, and government services. But now things are changing.
“A billion here, a billion there, pretty soon you’re talking about real money.”
Booms and BustsBusiness Cycles
Protectionism and Free Trade
In every trade, a person is giving up something he values less for something he values more. Every time a shopper buys any item from another person, he has improved his standard of living, and so has the seller.
Financial MarketsGlobal EconomyMoney and Banks
Since Libra is an extended arm of the current financial system, first-world economies could benefit at the cost of developing economies.
Free MarketsSocialismOther Schools of Thought
Socialism and capitalism offer radically different solutions to the problem posed by scarcity.