Posted on November 13, by Scott Alexander I. Medieval Icelandic crime victims would sell the right to pursue a perpetrator to the highest bidder. Somali judges compete on the free market; those who give bad verdicts get a reputation that drives away future customers. Law is a public good.
Some people continue to defend trickle-down theories, which assume [? This opinion, which has never been confirmed by the facts [! Pope Francis IEvangelii Gaudium, "The Joy of the Gospel," November 26,exclamations and questions added, The European Dream, with its emphasis on collective responsibility and global consciousness Jeremy Rifkin, "The European Dream," Europe is an economic success, and that success shows that social democracy works.
Guess a Nobel [i. Toomas Hendrik Ilves, President of Estoniaa graduate of Columbia University, in response to a blog post by the Keynesian Paul Krugman about the "incomplete recovery" of Estonia from the European recession, June 6, Now, what we're doing, I want to be clear, we're not trying to push financial reform because we begrudge success that's fairly earned.
I mean, I do think at a certain point you've made enough money. Like them, he has driven the U.
Then again, neither of his predecessors had such visible evidence of where social democracy ultimately leads. What's this president's excuse? Referendum on Europe," The Wall Street Journal, Tuesday, January 3, Economists agree that a large capital stock is a key ingredient for prosperity, as it expands our productive capacity and raises worker productivity, which in turns increases wages and consumer purchasing power.
Our capital stock is comparatively much smaller today than it was before the Great Depression. This isn't complex economic theory; it's something we all know from our personal experience. Where there is investment -- a new factory or distribution facility being built, a new store about to open, new software being installed -- that is where new jobs are created.
It is no coincidence that during this period of subpar growth, private capital investment as a percentage of our economy is at post-World-War II lows. A19 Capital goes where it's welcome and stays where it's well treated.
Walter WristonCiticorp Chairman, All economic problems are about removing impediments to supply, not demand. But Keynes, unlike many of his followers, was not a man of the left. Barro Harvard"Keynesian Economics vs. Regular Economics," The Wall Street Journal, Wednesday, August 24, regarding the demand side "multiplier" The principle of Keynesian economics is to stimulate demand.
This done by distorting the labor market through artificially inflating wages or actually fixing wages. Price manipulation and price fixing always result in either surpluses or shortages of what is manipulated.
This part of Keynesian strategy thus increases unemployment, which is the surplus of labor. The other part of the strategy is public spending, which always ends up being done for political rather than economic reasons, in part because governments cannot successfully engage in macroeconomic calculation.
This was predicted by von Mises and Hayek and demonstrated, not just by the economies of the Soviet block, but by almost every government spending program that has ever existed. Government spending also siphons off capital from the private economy, which inhibits hiring, production, and investment.
The whole Keynesian program is thus grotesquely counterproductive, except to the privileged and often connected few to whom the inflated incomes and government money actually flow.
Enklinobarangus They've already pumped endless amounts of money into the economy The results are dismal. And so suddenly businesses are doing well, the economy is doing well, and we get into a virtuous cycle. And we go up We believe that when a CEO pays his auto workers enough to buy the cars that they build, the whole economy does better.
The real job creators are the vast middle class and the poor, whose spending induces businesses to create jobs. That is why raising the minimum wage, extending overtime protection, enlarging the Earned Income Tax Credit, and reducing middle-class taxes are all necessary.Marxist Dreams and Soviet Realities.
, Marxism, as understood and interpreted by V. I. Lenin. It would have saved the peoples of Russia an immense amount of suffering if Lenin — and Marx. Why Socialism Failed. Collectivism is based on faulty principles. The failure of socialism in countries around the world can be traced to one critical defect: it is a system that ignores incentives.
Its valuable farmland, lakes, rivers, and streams stretch across a land area that encompasses 11 time zones. Yet Russia remains poor. The Failure of Marxism & Capitalism as Necessary Political and Economic Entities By Richard L.
Dixon The premise that the classical schools of Marxism and Capitalism are the basic economic and political foundations of the industrialized West is a misnomer. Essays and criticism on Marxist Criticism - Critical Essays.
behind most literary works in communist and socialist Russia, Marxism also greatly influenced Western writers. Turnitin provides instructors with the tools to prevent plagiarism, engage students in the writing process, and provide personalized feedback.
And if anyone can figure out decent ways for a Robin-Hanson-ian em-clan to put together a similar sort of internal legal system for its members, and can describe how cultural-evolutionary pressures would lead em-clans to tend towards any particular systemic details, I would love to read about it.