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.

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

The red dotted line is where we finally said goodbye completely to the gold standard.

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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Washington Post: With new Congress, D.C. region is losing clout (One can only hope.)

Over the last 2 decades Washington DC, always a little full of itself, has embraced the role of Imperial City. DC is by far the wealthiest region in the USA. From the Blue Ridge Mountains east to the Chesapeake Bay, from the suburbs of Baltimore south to Fredericksburg Virginia, it is a vast swathe of repurposed taxpayer dollars.

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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,

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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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