As Joseph Schumpeter noted, markets need “creative destruction” to survive and advance. However, Europe‘s Digital Market Act (DMA)—while written to ostensibly protect competition—gives the digital economy uncreative destruction.
Totalitarianism is not compatible with a functioning economic system based upon free exchange and private property. Such regimes depend upon historicism and logical relativism.
Capitalism is characterized by the private ownership of capital, coming from Lockean homesteading principles, and not from state coercion and force.
Sponsored by Dan Johnson and Randee Laskewitz.
