“Just as people have varying levels of faith in an “invisible God,” so people have differing degrees of belief in the beneficial “invisible hand” of capitalism and freedom. By faith, I mean a certain degree of confidence that, left to
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In his book comparing the Chicago and Austrian schools of economics, Mark Skousen clarifies the various schools of thought by their faith in Capitalism. Marxists have no faith in capitalism. In the world of capitalism they are the atheists. “To
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One potentially fruitful exercise has been to develop a new national income statistic that measures total spending in the economy, what (Murray) Rothbard called the Aggregate Production Structure. The purpose of this new national statistic, which I have dubbed Gross
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Warren Buffet’s most recent call to tax the wealthy more has been bantered about in the press and has received several good responses. I could sum them up as follows: The problem is the spending . Sending them more money
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