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Tag Archives: capitalism

Material well being and morality

Wall Street Journal's logic. They say: "In the Americas 'thousands of persons are led to travel north in search of a better life for themselves and for their loved ones, in search of greater opportunities,' the pope said. 'Is this not what we want for our own children? We must not be taken aback by their numbers, but rather view them as persons, seeing their faces and listening to their stories, trying to respond as best we can to their situation. To respond in a way which is always humane,...

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Where in the ABCT are Stock Market Bubbles supposed to be the Mechanism by which Capitalist Economies are destabilised?

It is a crucial point: Austrians complain about asset bubbles, but their Austrian business cycle theory (ABCT) or economic theory in general does not focus on stock market speculation or asset bubbles as a fundamental and inherent means by which an economy is destabilised.For example, in the ABCT it is real and unsustainable higher-order capital investment that is supposed to wreck the economy, not debt-financed asset speculation.The Austrians today are falsely claiming that they have some...

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Paul Mason on “Is Capitalism Dead?”

The English journalist Paul Mason speaks below on neoliberalism and his belief that capitalism has had its day. He is the author of the new book Postcapitalism: A Guide to Our Future (2015).[embedded content]Frankly, I think the debate is very confused and misses important points. Also, Mason’s book appears to base its analysis on the idea of the Kondratieff wave and Marxism (Chapter 3 of the book is even called “Was Marx Right?”). Unfortunately, I think these theories are nonsense.In my...

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