…continued from Part 2   China’s Drive for National and Global “Greatness” In the case of China, President Xi Jinping … Continue reading “Tariff walls and trade wars equal government planning (Part 3)”

…continued from Part 1.   Protectionism Is Planning Winners and Losers Trade-restricting policies represent forms of governmental economic planning. It … Continue reading “Tariff walls and trade wars equal government planning (Part 2)”

Trade wars are dangerous and harmful policies for governments to pursue. They hurt consumers due to higher prices and fewer … Continue reading “Tariff walls and trade wars equal government planning (Part 1)”

Continued from Part 2   Regardless of which individual is “playing this role” in society, we anticipate each will act … Continue reading “Price is the only language that everyone speaks (Part 3)”

Continued from Part 1.   But if not under the commanding instructions of a central planner or government regulator, how … Continue reading “Price is the only language that everyone speaks (Part 2)”

Open, competitive markets have a resilient capacity to successfully coordinate the actions of billions of people around the world. With … Continue reading “Price is the only language that everyone speaks (Part 1)”

Numerous misunderstandings and mythologies surround the meaning of capitalism and competition, but few match the confusions over the meaning and … Continue reading “The popular misunderstanding of the word “monopoly” (Part 1)”

Continued from Part 1.   Let me suggest that what Marx was objecting to – revolting against – was human … Continue reading “Marx’s Flight from Reality (Part 2)”

Though it may seem strange, Karl Marx was not always a communist. As late as 1842, when Marx was in … Continue reading “Marx’s Flight from Reality (Part 1)”