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Tag Archives: capitalism

Modern central bankers have things upside down, This is why they fail

Money isn’t wealth. It measures wealth the way a ruler measures length, a clock measures time and a scale measures weight.

Boy is this true, but so many people, including the supposed shamans at the Fed  fail to grasp (or choose oddly to ignore) this basic concept. Dumping “money” into the economic system isn’t going to make the economy grow, it will only make the money currently in the system worth less.

It’s not quite that simple. But it’s nearly that simple.

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Memo to the Political Class: You Can’t Be a Hero and a Thief

Washington and the Fed think they can plan out society. That they can manipulate the levers of the economy to elicit positive outcomes (mostly for them). That leaving the world to the “whims of the marketplace” is madness. That dispassionate managers (no one is dispassionate, especially political managers) can and will make the world anew. There is no God. Government is God and it will giveth and taketh as it pleases.

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Richard Ebeling: Free Market Capitalism vs. Crony Capitalism

A great explanation of the difference between the two is attached. And we agree, it is vital that the current renaissance in classically liberal thought continues to grow. Life, liberty, and property are beautiful ideas and the world would be a much better place (safer, more educated, generally more fulfilled) if people had a better understanding of these concepts.

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Gene Epstein on Crony Capitalism

Barron’s distinguished economic analyst Gene Epstein pointed out in an article May 31st that increasing economic inequality is not caused by capitalism, but rather by Crony Capitalism. He also cites Hunter Lewis’s book Crony Capitalism in America 2008-2012:

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