Yet another Forbes magazine cover uses the word billionaire, this time glorifying the fracking king. Sigh.
INC, Businessweek and Fortune and all other business magazines, especially the ones putatively devoted to small business, and proceed from the definition of wealth as how much a person can buy with what they can accumulate.
I suppose if the regime is capitalist, by definition then that would be pertinent. The confusion sets in when people somehow conflate capitalism and free markets, which are mutually exclusive.
Fracking is being allowed on the premise we have an energy shortage. There are never shortages of anything in a free market. Capitalism aggregates power into the hands of a very few and the narrowed interests result in malinvestment and misallocation. Crises follow.
When will there be a magazine devoted to the free market? With the definition of wealth the etymogically defensible one of the range of goods and services one can afford with one's own money?
I'd have something in the magazine called the toaster index. I'd compare what it would cost to make a toaster (and run it) in USA vs other places on earth. I'd plot the trend. Right now plenty of places beat USA. When the toaster began to overtake other places, as costs fell, it would tell you USA was improving.
The business media in USA is devoted to capitalism and crowds out any news on free markets.
Feel free to forward this by email to three of your friends.
INC, Businessweek and Fortune and all other business magazines, especially the ones putatively devoted to small business, and proceed from the definition of wealth as how much a person can buy with what they can accumulate.
I suppose if the regime is capitalist, by definition then that would be pertinent. The confusion sets in when people somehow conflate capitalism and free markets, which are mutually exclusive.
Fracking is being allowed on the premise we have an energy shortage. There are never shortages of anything in a free market. Capitalism aggregates power into the hands of a very few and the narrowed interests result in malinvestment and misallocation. Crises follow.
When will there be a magazine devoted to the free market? With the definition of wealth the etymogically defensible one of the range of goods and services one can afford with one's own money?
I'd have something in the magazine called the toaster index. I'd compare what it would cost to make a toaster (and run it) in USA vs other places on earth. I'd plot the trend. Right now plenty of places beat USA. When the toaster began to overtake other places, as costs fell, it would tell you USA was improving.
The business media in USA is devoted to capitalism and crowds out any news on free markets.
Feel free to forward this by email to three of your friends.
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