Tag Archives: capital

World’s Poor: “We Want Capitalism”

The way out of poverty is through capitalism, free enterprise, free markets, and free prices. But so many people who I believe honestly want to do good do not understand this. They believe that central planning and aid from “rich countries” will solve the world’s problems even though they have only worsened things in aggregate around the world for decades.

Where poor people can build wealth and enjoy property rights and honest pricing the tendency is toward prosperity. Where there is government intervention, where the government or connected cronies can just seize the limited wealth of the poor (often in the name of “justice”), where prices are obfuscated, there is poverty and misery.

We do not believe in free prices and free markets because we want to keep “what’s ours.” We believe in them because we know, and have seen, how much better capitalism is for everyday people than state intervention and its associated cronyism.

In order for a society to truly proper people need both personal liberty and economic liberty, which are actually one and the same. Capitalism allows for both and offers a path out of poverty. (Not that it is always easy.) But many people just refuse to see this. It fundamentally conflicts with everything they’ve been told, to date.

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Did a 26-year-old just take down Thomas Piketty?

Piketty has largely been “taken down” already. That the economist does not acknowledge that the current fiat money system and the financialization of the world economy generally is what is driving inequality, not “capitalism,” is a huge problem. To say the least.

But others have come after Picketty from other angles.

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Piketty’s wealth inequality book a ‘big mess’ (Video)

Piketty rose out of nowhere like a rocket, propelled by the Obama administration and an #oldmedia which loved the narrative the French professor was selling.

In the last couple of weeks however, as people have read the book, the gravity of peer review has started to bring the rocket down nearly as fast as it went up.

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Our Crony Capital: D.C. awash in contracts, lobbying wealth

If one wants to get paid and one is OK with suckling at the teet of the American taxpayer, DC is the place to do it. It is the capital from The Hunger Games movie. It is here that the wealth of our nation is aggregated. The hinterlands pay their tribute to the massive bureautropolis which straddles the Beltway and stretches into the countryside of Virginia and Maryland.

In the opinion of many in Washington, you the American citizens, exist to support them.

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Have we become Rome?

The DC political class engages in gossip and intrigue and concerns itself with fashion and parties. It is “This Town.” Meanwhile things continue to get more and more real for the citizens in the hinterlands where the economy continues to slowly go out like a mid moon tide.

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Obama: The President’s Job is Not to Maximize Profits

It is not news that President Obama does not understand economics. Nor is he alone in not understanding the role of profits in an economy. But anyone who wants more employment will want to maximize profits. Profits are a leading indicator for employment. If businesses are making more profits, they will have the money to pay workers, give raises, and above all hire new workers. Moreover the profits will give the businesses an incentive to do all these things.

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