‘Capitalism, Tradition and Traditionalism’ – An Overview . The Reactionary sees no problem with wealth inequality, which reflects differences of aptitude, however the people at large will be prone to complaints of wealth inequality if their entire world is centered around capital, that which they may be unsuccessful at accumulating. Marx himself said that communism… Continue reading Wealth Inequality Not a Big Concern
From n+1 magazine, After Capitalism: HOW WILL IT END? For centuries even the most sanguine of capitalism’s theorists have thought it not long for this world. Smith, Ricardo, and Mill pointed to a “falling rate of profit” linked to inevitable declines in agricultural productivity. Marx applied the same concept to industrial production, suggesting that the… Continue reading Post-2008 Capitalism: A Guide
Dyseconomics, developed in 2011, describes how an economic system that is optimal for growth and technological expansion is one where, counterintuitively, the economic contributions of the majority of individuals goes to zero relative to the size of the overall economy, a version of the Pareto Principle as applied to macroeconomics. It also describes the counterintuitive… Continue reading Economic Myths, Part 4: Job Creation is Good
Some may be surprised to learn that ‘full employment’, as defined by a 0% or near 0% unemployment rate, is neither feasible nor economically desirable. The definition of ‘full employment’ can have many meanings, the definition accepted by economists generally allows for some unemployment, but for ‘full employment’ to occur anyone who wants to work… Continue reading Economics Myths, Part 3: Full Employment is Good
From Jim Goad of Taki Magazine: Workers of the World, Goodbye The Luddite fallacy has a good track record of being a fallacy. You get rid of one type of job and another pops up. As the labor market becomes more polarized, there will probably be strong growth of jobs in the low-paying service sector… Continue reading Will Technology Make All Jobs Obsolete?