Critics of capitalism claim that private enterprise gives workers the unhappy choice of either working difficult, low-paying jobs or outright starving. The claim is false and the history of capitalism tells a different story.
David Stockman is, to say the least, no admirer of Donald Trump, but even those inclined to a more favorable view of the former president than his will find much of value in this book.
Contrary to the drumbeat from political, media, and academic elites, capitalism improves the lives of ordinary people. Socialism receives favorable publicity but fails wherever it is implemented.
Progressives claim that profits are an unjust transfer of wealth from the poor to the rich. In reality, entrepreneurs earn profits by directing resources from less valued to more valued uses to satisfy consumer needs.
Progressive historians, journalists, and politicians claim that the Industrial Revolution and the growth of industry brought poverty and exploitation to American workers. The truth is much different, even if it is rarely heard.
Political and academic elites have successfully convinced the public that they should fear private enterprise. However, people really should fear an out-of-control government.
Progressive historians, journalists, and politicians claim that the Industrial Revolution and the growth of industry brought poverty and exploitation to American workers. The truth is much different, even if it is rarely heard.
While conservatives and followers of Austrian economics often have much in common, many conservatives are against free trade and free exchange. Austrians need to carefully explain why those beliefs are harmful.
Progressives claim that profits are an unjust transfer of wealth from the poor to the rich. In reality, entrepreneurs earn profits by directing resources from less valued to more valued uses to satisfy consumer needs.
In ending the gold standard, Nixon was guided by Milton Friedman, who wrongly believed that the Fed could end recessions and cope with inflation by controlling the quantity of money.
