Daily Archives: October 12, 2014

Capitalism, Reformation, and Revival

Capitalism By Robert Hessen   “Capitalism,” a term of disparagement coined by socialists in the mid-nineteenth century, is a misnomer for “economic individualism,” which Adam Smith earlier called “the obvious and simple system of natural liberty” (Wealth of Nations). Economic individualism’s basic premise … Continue reading

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Economic Growth and True Inequality — Part 1

Economic Growth. Part 1.  By John V.C. Nye  “Our understanding of the rich and the poor has been skewed by what we choose to measure, and not realizing how different the classes of goods that the rich and poor consume … Continue reading

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Economic Growth 2 — Irreducible Inequality

Economic Growth. Part II. Irreducible Inequality By John V. C. Nye   “Though Hirsch decried the ‘waste’ that competition for positional goods like location creates, I see it as a positive force for the democratization of the benefits of economic growth.” … Continue reading

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