McCloskey’s suggestion for changing the term “capitalism” into “innovism” might be a more practical way of arguing for free markets. Capitalism, as it’s tossed around in conversation, ends up getting misconstrued by both sides of the argument, because it lends itself to assume that societies have only become rich through the accumulation of capital. However, … Continue reading Using Innovism Instead of Capitalism
You’re Getting Ripped Off
I guess it’s still a thing. Capitalism = Disgusting Richard Wolff, the leading Marxian economist in the United States, has dedicated his life to exposing the “truth about capitalism.” His talk, inspired by Karl Marx, disgustedly explains how capitalism works. His emphasis resides on the claim that workers are getting ripped off because they do … Continue reading You’re Getting Ripped Off
My Ideal Economic Design
A friend messaged me on Facebook asking, "If I could build my own economic system, what would it look like?" I responded quickly by letting him know I’d send my thoughts to him the next day. Well, two weeks have gone by and I have finally decided to take a stab at this quite daunting … Continue reading My Ideal Economic Design