Introduction We’ve often heard the phrase “that’s not real capitalism” used as a denial for all the undemocratic, horrible, inhuman things capitalism does. Anytime capitalism does something horrible the excuse is made that a “real” free market wouldn’t have done it. This is usually accompanied by all manner of false claims about how the government…
Murder needs to be legalized. Illegal murder only pushes it into the black market, where cartels of thugs can overcharge and abuse their position given a lack of competition. Making murder legal also allows it to be taxed and regulated, so that murderers can work in sanitary and humane conditions, and revenues can be used…
Nevertheless, price depends upon the actual money commodity. Apart from all the little things that may cause disturbances, the tailor can set the price of the coat at 10 grams of gold, if there is that amount of socially necessary labour embodied in such a quantity of gold as in the coat. If the tailor…
A response to a reactionary video by anarcho-capitalist Jacob Spinney, by Klaas Velija (a good friend and a great teacher of Marxism) http://crushcapital.wordpress.com/2012/10/28/critique-of-jacob-spinneys-video-on-exploitation/ “So what exactly do people mean when they say that workers are being exploited?” Exploitation is defined as “making use of some vulnerability in another person in order to use them to…
By blogger Lord Keynes (who is cool) It was once claimed by Murray Rothbard that deflation was the natural state of the economy: or, that is to say, what Rothbard imagined as the “natural state” in his anarcho-capitalist fantasy world. Needless to say, anarcho-capitalism has never existed in the real world, so we really have…
In the know Libertarians have been enthusiastic about the so-called successes of austerity in Estonia. Perhaps they have felt like they finally have something to back up their constant non sequitur claims that the “truly free market” can fix any problem. As per usual they use (if they do) data and make claims that don’t…
In the course of economics I’ve come across some really weird and senseless statements by some people. One of those people is Frederic Bastiat, who makes this odd and incorrect statement where he claims that if a man were to live by himself off the land, he would be all the positions within production. “The…
Example of how Bohm-Bawerk either didn’t read or didn’t understand Marx: in the third volume of Capital Marx asserts that social value comes from adding the average rate of profit to the cost of production, while in the first volume he doesn’t mention this phenomena, only talking about the rate of profit. Here Bohm-Bawerk accuses…
Every time I look at the Mises institute website I see something more dishonest than the last time. They alone seem to have a monopoly (not real capitalism!) on posts that completely detract from reality and continually attribute human characteristics to the non-living entity that is the state. It boggles the mind that they unceasingly…
I read an absolutely atrocious blog post from the Mises institute that was sent to me by a subscriber. The post by George Reisman declared at the beginning the intention to show “why Nazi Germany was a socialist state, not a capitalist one”. The premise is simply ridiculous and obviously an attempt to erase the…
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