Surrounded by the Achievements of Capitalism

Tags: Capital and Interest Theory, Entrepreneurship

10/08/2014 Jeffrey A. Tucker

Grimm’s Fairy Tales (1812 in Germany) hold many metaphors for understanding economics. After 1800 life became very different and prosperous, surrounded by achievements of capitalism. Private property enabled all growth. Division of labor found employment for each man. Exchange is a win-win action. Risk taking tests ideas. Capital accumulation as production to make other things. The desire for a better life and the belief that it can happen.

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