Nobel Laureate Robert J. Shiller explains why this may be the case in his new book, “Narrative Economics.” As Shiller points out, when a story is repeated enough, the viral message may be accepted as conventional wisdom, more like an article of belief than a matter of reason
Of course, Rubio’s droolings about China likely explain why he believes what he does about capitalism. In each instance, the Senator believes capitalism can be planned by those like him who have no experience with it. Sorry, but capitalism is far too glorious for politicians to engineer.
Value is a judgment economizing men make about the importance of the goods at their disposal for the maintenance of their lives and well-being. Hence value does not exist outside the consciousness of men.
In the free market society – and only there – people are morally and legally viewed as sovereign individuals possessing rights to their life, liberty, and honestly acquired property, who may not be coerced.
The outcome of this policy is that time becomes worthless. As one’s hard-earned money, set aside for a rainy day or for their children’s education, instead of appreciating, instead diminishes day by day, it does not make sense any longer to produce and to save.
Peak Season has been made out to be like a scene out of Ben-Hur when Charlton Heston and his fellow prisoners are rowing that galley to the beat of a drum. Such comparisons are ludicrous. Obviously we were driven to give nothing less than our best performance, but management went out their way to make the experience a cheerful one.
The next major event that will be used to further centralize power and escalate domestic authoritarianism will center around U.S.-China tensions. Politicians will try to sell you on the monstrous idea that we must become more like China to defeat China.
The average income in the most capitalist countries is six times higher, in real terms, than the average income in the least capitalist economies. More than 27 percent of people in the most socialist economies live in extreme poverty but that number is just 1.8 percent in freest economies.
The creation of an implied multi-tier justice system expressly violates our fundamental value of the law applying equally to citizens from all walks of life and most importantly results in the increasingly intolerable and dangerous conditions existing on the streets.
Politicians like Transferism: a system in which one group of people forces a second group to pay for things that the people believe they, or some third group, should have. Transferism is the forced redistribution of what’s produced.
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