Tag Archives: capitalism

The One Minute Case For Capitalism

Capitalism a social system based on the principle of individual rights. A capitalist society is based on the recognition of individual rights, including property rights. Under capitalism, all property is privately owned, and the state is separated from economics just as it is from religion. Economically, capitalism is a system of laissez-faire, or free markets, …

February 13, 2009 – 2:21 am | By David Veksler | Posted in Economics, Politics | Tagged , , , , | Comments (60)

The One Minute Case Against Interventionism

Free markets created the modern world A free, capitalist economy has never existed anywhere in the world. The closest the world came to a free market was during the Industrial Revolution in Great Britain and during the late 19th century in the United States. The Industrial Revolution was a period of unprecedented economic growth and …

February 13, 2009 – 12:26 am | By David Veksler | Posted in Economics, Politics | Tagged , , | Comments (4)

The One Minute Case against the SEC

Markets regulate themselves Long before the existence of the Securities and Exchange Commission, medieval guilds and trading houses established common standards, accreditation agencies, and accounting rules that have evolved to the present day. The system of English common law has been evolving since the 12th century 1, and the accounting system used today was codified …

February 10, 2009 – 2:14 am | By David Veksler | Posted in Economics, Politics | Tagged , , , , , , | Comments (1)

The One Minute Case for the Austrian Business Cycle Theory

The Austrian Business Cycle Theory was developed by the economist Ludwig von Mises to explain the phenomenon of business cycles. It provides crucial insight for understanding the cause of cyclical boom/bust cycles and their connection the government’s manipulation of the economy. To understand the Austrian Business Cycle Theory, an analogy is helpful: Imagine an economy …

October 2, 2007 – 3:18 pm | By David Veksler | Posted in Economics | Tagged , , , , | Comments (5)

The One Minute Case For Unrestrained Profit

Profit is the engine of production Restraining profit by taxing it or limiting it has the effect of limiting production. Restraining profit means an economy will produce fewer goods, of less variety, and at higher price. Innovation suffers. As a result, to the extent profits are restrained, all consumers suffer. Profit drives production in several …

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May 20, 2007 – 1:57 am | By Galileo Blogs | Posted in Economics | Tagged , , | Comments (1)