The Inward Draw of Capitalism

A crucial part of the modern capitalist economy was the emergence of a new ethic, according to which profits ought to be reinvested in production. This brings about more profits, which are again reinvested in production, which brings more profits, et cetera ad infinitum. Investments can be made in many ways: enlarging the factory, conducting scient

... See more

Andrew Redleaf and Richard Vigilante write in Panic: The Betrayal of Capitalism by Wall Street and Washington, “The ideology of modern finance replaced the capitalist’s appreciation for free markets as a context for human creativity with the worship of efficient markets as substitutes for that creativity. The result was a divorce of entrepreneurial

... See more

In many ways, modern society seems to be using a slightly more complicated version of a Keynesian economic stimulus scheme where the economy is stimulated by having some people dig a hole, then having others fill it back in the next day. We create problems, spend the next day solving them, and then claim we have made progress. We're even following

... See more