I recently came across an interesting article by Paul O'Brien on Quora. For those who may not know, Quora is a site where individuals can ask questions and get a variety of different answers from people in the community (hopefully subject matter experts). I have been participating in answering questions on Quora for a few years now. But I particularly liked this answer and thought I would share it with you. Although the original question was "Is capitalism failing? Why or why not?" Paul chose to answer based on the inflation rate of various categories of consumer goods. ~Tim McMahon, editor Is Capitalism Failing? Why or Why Not? By Paul O'Brien Let’s run down … [Read more...]
The US Economy Puzzle- Is the U.S. Really Capitalist?
Is the United States really a "free market" economy and the bastion of "capitalism" as we claim? Or is it a Bureaucratic mess? Is it a "command economy"? Obviously we haven't reached the depths of socialism or communism that China and Russia reached before their fall and reemergence as capitalists but none-the-less our economy is not as free as it once was. There is burdensome regulations that prevent competition, political cronyism, corruption, and as David Galland contends in the following article "Europe and the economy of the United States is – and has been for decades – increasingly under the control of central planners at the expense of the free market." ~ Tim McMahon, editor The … [Read more...]
