The World Economic Forum meeting last week was interesting in that, for the first time, some dissent appeared to the WEF’s party line. That party line is not “corporatism” which requires private property (albeit owned by corporations). With its slogan of “You Will Own Nothing and Be Happy” the WEF negates private property and represents […]

There is a central contradiction in modern capitalism. Markets have become concentrated in a few ultra-large companies, which then attempt to broaden their spectrum of employees through “diversity” initiatives. Yet the oligopoly of large companies diminishes competition and harms consumers, while “diversity” weakens trust within the corporations and increases communication costs. How much better was […]

Mexico appears to face a dismal future after its election on 6 June this year. The leading candidate Claudia Scheinbaum is a devoted follower of current President Manuel Lopez Obrador, and according to current polls is likely to win and thereafter follow his hard-left policies. The opposition candidate Xóchitl Galvez combines the forces of both […]

The interminably prolonged era of zero-interest-rate “funny money” in 2010-21 produced an unparalleled tsunami of “malinvestment” – investment that was not economically justified in normal conditions – in both the United States and throughout the world. This tottering ziggurat has held up in 2022-23, despite soaring interest rates. But there are signs that, as 2024 […]

The wooly-headed economist Henri de Saint-Simon (1760-1825) divided humanity into two classes: the laboring classes (which included merchants and industrial management) and the idling class, who should be suppressed. Investors were included in the idling class, as Saint-Simon failed to recognize the importance of capital allocation in economic development. Keynes, with his “euthanasia of the […]