Tag: economic growth
Why we should celebrate capitalism and consumerism, at Christmas and all year
December 7, 2023 | Post
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.
How immigration creates a more prosperous world
August 23, 2023 | Post
Immigration has been a huge driving force behind creating America as we know it today. Without immigrants, or with far fewer immigrants, it would be impossible to imagine the United States developing into the world’s dominant economic powerhouse as it did. Opposition to immigration has been allowed to gradually place the American dream out of reach for so many ambitious individuals and deprive the country of further potential in the process.
Why is Africa poor? Is colonization the root cause?
June 16, 2023 | Post
“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.
Unleashing the power of rhetoric: how Deirdre McCloskey transformed the landscape of economics
May 24, 2023 | Post
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.
A tale of three Austrian entrepreneurship views
March 21, 2023 | Post
While Austrian economists have made great contributions in many subdisciplines of economics, their critiques of mainstream views of entrepreneurship have received arguably the most praise. Modern-day finance and entrepreneurship classes even use Austrian ideas dating back to Carl Menger’s Grundsätze der Volkswirtschaftslehre (Principles of Economics). But has Austrian Entrepreneurship Theory remained constant ever since?
Why some countries succeed and others don’t
March 6, 2023 | Post
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?
What is capitalism?
February 8, 2023 | Post
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?
Botswana: a triumph of capitalism in Africa
November 12, 2021 | Post
By embracing capitalism, Botswana went from one of the poorest nations in the world to one of the fastest growing economies.
Did big government make us rich?
July 11, 2017 | Post
Why are Western countries like the United States and Germany so much richer today than other countries around the world?
Would you give up the Internet for a million dollars?
December 8, 2016 | Post
Would you give up air travel for $100,000? What about foregoing automotive travel for $500,000? Why or why not?
Reasons to be optimistic
October 17, 2016 | Post
Beneath the surface there’s a lot of progress occurring that should make us all feel a little more optimistic about the future.
Markets Are Breaking Down India’s Caste System, Turning Untouchables into Millionaires
September 10, 2016 | Post
Once liberal reforms were put in place, they created choice and opportunity for many like never before. Market forces unwittingly brought about economic and thus social progress for India’s poorest and most discriminated against.
Nintendo's Rebooted NES Console a Nostalgic Reminder of Our Economic Progress
September 8, 2016 | Post
Adjusting for inflation, that a regular NES and 30 games would be about $2450 in 2015 dollars. And we can get all that today for $70. That’s a 97 percent price decrease without adjusting for quality
The Death Star: Building It, Not Destroying It, Was the Catastrophe
December 23, 2015 | Post
You might have come across this recent article which argues that destroying the Death Star in Star Wars would have economically crippled the galaxy. There are a number of problems with the article, as Janet Neilson at the Foundation for Economic Education points out. The three major causes for concern are: Mistaking the cost of […]