Joseph Schumpeter described capitalism as a process of creative destruction, and an economic system that is always changing, never stationary. He called capitalism an evolutionary process and said the engine that keeps the economy advancing is entrepreneurship. In a capitalist economy, people get ahead by being entrepreneurial: looking for ways to create value for...
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People tend to view taxes in one of two ways. One view is that taxes are the price people pay for government goods and services. The other is that taxes are a penalty levied on people who earn income or have wealth. Elizabeth Warren’s proposed wealth tax takes the second view.
Are policies to reduce inequality beneficial to those who are least fortunate? Sometimes they are; sometimes they are not.
One of the most frequent shortcomings of capitalism cited by capitalism’s critics is inequality.
Selective excise taxes may raise revenue for the public sector by targeting the consumption of things that elites disdain, but they do not save millions of lives.
Apart from practical difficulties and impossibilities, a Trumpian trade triumph, even if it could be achieved, would be a horrible objective to attain.
The hysteria has no firm foundation.
President Trump is going back on his campaign promise of making Mexico pay for “the wall”.
With polarization has come intolerance: people abandon their friends and family when they seem to have the wrong political views.
The real threat to free markets lies in the regulatory state.
