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capitalism

Economics & History: Why This Connection Matters

in Economics/Philosophy/Politics by

In a recent article of mine, I debunked the red herring of  the “roads” argument that many modern socialists throw around. It turns out that lately this article has gotten some pretty lively responses from its critical readers. One such commenter was someone I might have expected to be on my side (politically speaking) as he was presumably a libertarian himself, but the road forked for us at economics. It seemed as if this gentleman was an adherent of the Austrian school (a.k.a. the fantasy football of economics), and he had a thing or two to say about my reasoning behind my aforementioned debunking. But before we get to that, it might be prudent to first scan briefly the shoal of my original argument: the modern socialist mantra is to call their capitalist fellows “hypocrites” for accepting such “socialist” elements of society as roads and a postal service. My rebuttal to that claim is simple enough in that these very elements of public convenience (as well as many others) predate socialism’s inception; therefore…

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The Destruction Of Capitalism Is Well Underway. When Are We Going To Do Something About It?

in Economics/Politics by

Christiana Figueres, who heads up the U.N.’s Framework Convention on Climate Change, has said: “This is probably the most difficult task we have ever given ourselves, which is to intentionally transform the economic development model, for the first time in human history. “This is the first time in the history of mankind that we are setting ourselves the task of intentionally, within a defined period of time, to change the economic development model that has been reigning for the, at least, 150 years, since the industrial revolution.” Hold that thought. Meanwhile, the big political story in Britain in the last week has been a new Cash for Access scandal which lead to the defenestration of two senior Parliamentarians: Labour’s Jack Straw and the Conservative’s Malcolm Rifkind. Both are former Foreign Secretaries. Both were caught by Channel 4’s Dispatches program offering to use their positions as politicians to benefit a fictitious Chinese firm in exchange for at least £5,000 a day. And both will now be stepping down at the…

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