Post Tagged 'capitalism'

May 03, 2016

Now Available: ‘On Sale, Securities, and Insurance’ by Leonardus Lessius

In his famous work, History of Economic Analysis, economist Joseph A. Schumpeter gives a favorable nod to the works of Leonardus Lessius (1554–1623), sparking a fair amount of interest in the 16th-century Jesuit moral theologian. Continue Reading...

May 03, 2016

What Would Life Be Like Without Capitalism?

In an era where socialism is (inexplicably) once again in vogue, we should ask, “What would life be like in a world without capitalism?” The Fund for American Studies has produced a superb It’s a Wonderful Life-style video that not only shows what life would be like if we banned free enterprise (i.e., Continue Reading...

April 27, 2016

5 Reasons Millennials Should Support ‘Capitalism’

A recent national survey by the Harvard Institute of Politics finds that a majority of Millennials (18- to 29-year olds) do not support capitalism as a political theory. One-third of them, however, do support socialism. Continue Reading...

April 12, 2016

Lex Luthor, Capitalist Villain

In an earlier post I compared the political economy of superheroes in the DC and Marvel universes. And today I have a piece up at The Stream examining the figure of Lex Luthor, the crony capitalist villain featured in Batman v. Continue Reading...

April 08, 2016

How a Cuban Ball Player Escaped Communism for the Majors (and Much More)

Three years ago, Dalier Hinojosa was making the equivalent of $5 to $20 per month playing baseball in the state-run Cuban league. Having now defected from the country, escaping first to Haiti and now to America, Hinojosa will make $514,000 this season, playing for the Phillies. Continue Reading...

March 31, 2016

Ten quotes from economist Walter E. Williams

On this day in 1936, Walter E. Williams was born in the city of Philadelphia. The George Mason University economist is famous for his classical liberal views, often arguing that free market capitalism is not only the most moral economic system known to mankind, but it allows for the creation of the most wealth and prosperity. Continue Reading...

February 29, 2016

The New Aristocrats: ‘Conspicuous Authenticity’ in the Free Society

Under the feudalistic societies of old, status was organized through state-enforced hierarchies, leaving little room for the levels of status anxiety we see today. For us, however, status competition ranges wide and free, leading to multiple manifestations and a whole heap of status signaling. Continue Reading...

February 04, 2016

Does capitalism reduce violence?

It’s been said before, but it’s certainly worth saying again. Not only does the free market lead to material wealth, but it reduces violence. On a recent episode of the podcast “Question of the Day,” co-host Stephen Dubner reads a question from a listener: Why haven’t humans evolved as a species away from aggression? Continue Reading...

December 10, 2015

The 6 Elves of Capitalism

In “The Elves and the Shoemaker,” the famous fairy tale by the Brothers Grimm, a cobbler and his wife struggle to survive, barely making enough to eat (never mind investing in the future of their business). Continue Reading...

October 16, 2015

Bernie Sanders Loves to Decry ‘Casino Capitalism,’ But What About Economic Freedom?

In last Tuesday’s Democratic debate, Senator Bernie Sanders stayed true to his famed aversion to capitalism, proclaiming the fanciful virtues of “democratic socialism.” Yet when prodded by Anderson Cooper — who asked, “you don’t consider yourself a capitalist?” Continue Reading...

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