Last Christmas, Pope Francis criticized holiday consumerism, saying that ours is “a society often intoxicated by consumerism … wealth and extravagance.”
To understand why this sort of critique is mistaken, and why consumerism and capitalism deserve our love at Christmastime and throughout the year, we need to go back to basics.
The most compelling case for why socialism is immoral comes from someone with first-hand experience. This is the story of a Soviet refugee, one whose experiences and insights lay bare a truth that challenges the very foundations of socialism.
In the pantheon of economic thought, Adam Smith stands as a colossus, a philosopher whose seminal work, The Wealth of Nations, fundamentally shaped our understanding of free markets and the power of individual self-interest to fuel societal progress. But what would he write about today’s issues?
Whether you’re stepping into Rand’s world for the first time or revisiting these classics with fresh eyes, these books are your passport to exploring Objectivism and its profound implications for individual liberty, reason, and the pursuit of happiness.
In honor of Milton Friedman’s birthday, let’s review the American economist’s greatest contributions to the advocacy of free market capitalism.
“Colonization is why Africa is so poor” is something I hear all the time. But it was not until recently that I realized: This impulsive defense of Africa is far from the full truth.
In a world dominated by numbers and equations, one economist dared to challenge the status quo and unveil the true power of persuasive language. Meet Deirdre McCloskey, a visionary economist, historian, and writer whose groundbreaking ideas have reshaped the way we understand economic progress.
Free-market environmentalism combines the ideals of environmental protection with the principles of a free-market economy. It acknowledges that markets can provide powerful incentives for conservation and environmental stewardship, and that private property rights and contracts can be leveraged as tools to protect the environment. But how exactly does this work?
Why are some countries successful while others aren’t? Is it down to natural resources, colonialism, or can it be better explained by something else?
Ayn Rand, a celebrated author and philosopher, was one of the most influential thinkers of the 20th century. Known for her bestselling novels, such as The Fountainhead and Atlas Shrugged, Rand’s ideas have had a profound impact on the fields of politics, economics, and philosophy.
Ideology — that is, a system of beliefs that are baked into our perception of the world — serves important functions in human society. It can provide context to problems, foster a sense of belonging and community, and in some cases even inspire hope. But what are the limits of ideology?
Capitalism can be viewed as an economic system that has been a driving force in many advanced economies, fostered growth and innovation, enabled people to lift themselves out of poverty, and greatly improved living standards. But it also has many staunch critics, who will argue that, regardless of outcomes or track records, it is a deeply harmful and exploitative system. So, to clear up any confusion, what really is capitalism, and what isn’t it?
The socialism vs. capitalism debate is tired and stale. If you look at any media on the topic, you’ll find people rehearsing the same, boring arguments. “Socialism doesn’t work because human nature is flawed! Socialism doesn’t work because nobody would be incentivized to work! Socialism is inefficient!” Of course, these statements are true. However, they are not convincing for those who don’t believe them. Next time you find yourself into a debate, use these arguments to tackle the root cause of what you’re discussing…
Objectivism is consistently mischaracterized and stereotyped in popular media, and is blamed as responsible for any right-leaning political development. Here are five common myths that you may have heard about Ayn Rand.
It used to be very easy to define political camps. You were left-wing if you were a socialist, and you were right-wing if you were a capitalist. But now the terms of the debate have changed. Economics has taken a back seat
Neoliberalism and libertarianism share many common principles despite meaning different things to different people. But what is neoliberalism in reality — and how does it relate to classical liberalism and libertarianism?
Modernity is unthinkable without capitalism, yet Ayn Rand defined capitalism as an unknown ideal, one whose benefits people did not understand
By embracing capitalism, Botswana went from one of the poorest nations in the world to one of the fastest growing economies.
Valentine’s Day is only possible because of free markets. Our ability to appreciate and enjoy Valentine’s Day is the direct result of the wealth created by markets.
Millennials may talk the socialist talk, but this look at the evidence shows they also walk a rather capitalist walk.
Dr. Miron has written over 100 op-eds and several books, including Drug War Crimes: The Consequences of Prohibition (2004) and Libertarianism: from A to Z (2010).
Have you ever thought your employer was exploiting you? That the company you work for doesn’t really earn its profits — it just rips off its workers?
Only in freedom do people have the ability to be good, but can freedom itself teach us what “goodness” means?
This isn’t an accident. This is the purpose of these regulations — to protect established businesses from competition.