Introducing the In Depth series on the actual workings of capitalism. Commentary on economic theories.
Recently Noted – Robert Reich: how we got into this mess and how we get out of it This is a good description of how we got into our current mess; the way out is weaker. Nevertheless, well worth the six minute view. A few thoughts To be clear the --->> read more -->>
The New York Times has a piece this Sunday (7/30/17) by the well-known former Bush II economics advisor Greg Mankiw, “Why Healthcare Policy Is So Hard”. The article broadly acknowledges what every other developed country has recognized for decades, healthcare is not a good candidate for market control. Interesting that --->> read more -->>
Innovation is at the heart of capitalism We have been constantly told this for so long that it is now an assumption that has become an accepted fact. On the other hand, government is slow-footed, clumsy, bureaucratic, rule bound and the antithesis of innovative. This is the flip side of --->> read more -->>
Companies must externalize as many costs as possible in free-market capitalism. Without adequate government protections you will end up with this kind of environment. from the New York Times: Nearly 14,000 Companies in China Violate Pollution Rules By EDWARD WONG “Environmental inspectors in northern China have found that nearly 14,000 companies, or --->> read more -->>