This section is background for visitors, and it is more important than individual daily stories. Please take the time to view the material that is presented. Note that if you would like to comment on any article at this site but wish to remain anonymous, you may comment using a fictitious name and e-mail address. Please add this site to your “Favorites,” and visit us often. We update daily; we’re free of annoying ads; there is no registration, and it’s all absolutely free. All comments are welcome; those with evidence especially so. NOTE: THIS SITE IS BEST VIEWED USING MOZILLA FIREFOX. THERE IS A SEARCH ENGINE PROVIDED AT THE TOP RIGHT OF THE PAGE. JUST PUT IN A KEY WORD OR WORDS AND A NEW WINDOW WILL OPEN THAT SHOWS ALL OF THE ARTICLES ON THAT TOPIC, YOU CAN ALSO SEARCH BY CATEGORY (HISTORY, SCIENCE, WAR, ETC.) AT THE TOP OF THE PAGE. IF YOU WANT TO SEND A PARTICULAR ARTICLE TO SOMEONE, JUST CLICK ON THE HEADLINE. A NEW WINDOW WILL OPEN UP WITH THAT ARTICLE, INCLUDING THE EXCERPT, THE LINKED URL, AND ANY COMMENTARY AND COMMENTS THAT MAY BE PRESENT. COPY AND PASTE THE URL OF THE NEW WINDOW IN YOUR E-MAIL. Be sure to check out the books in the newly updated Books and DVD section.
The debates leading up to the election this year will no doubt invoke the “American value” of capitalism. But what, exactly, does that mean? And what should it mean?
I’m no economist, but I took a few economics courses while earning an undergraduate business degree. Growing up in a capitalist society, I thought I understood the basic concepts underlying capitalism — free markets, competitive advantage, and so forth.
Then I actually read The Wealth of Nations by Adam Smith, the founding work that described what we call capitalism in the first place. That was a game changer.
We’re all probably familiar with Smith’s ideas at some level.
The market regulates itself, as each of us operates based on our own self-interest. Businesses try to earn profits, and consumers try to meet their needs at the best prices. The market ensures that the demand of consumers is met with supply from business.
The government’s job, the doctrinaire thinking goes, is to get the heck out of the way. It doesn’t set prices or quotas. It just lets the market function.
Adam Smith cast this arrangement in glowing terms in 1776. He was describing England during the Industrial Revolution. He thought it was amazing that millions of individual actors, each operating based on self-interest, could so efficiently revolutionize society without any central planning at all.
Only, he was wrong…
“In my view, it’s easy to ‘boo’ but it’s harder to look your kids in the face living under a Donald Trump presidency!” ~ Bernie Sanders, July 26, 2016 speech at DNC
Bernie Sanders lied to the American public and world-wide victims of US empire by providing a false choice between Left and Right arms of one criminal political body of .01% oligarchs. The only rational, responsible, and legal response for Americans is to demand arrests of such oligarchs rather than vote them into power for ongoing Wars of Aggression and related crimes of empire. This article will explain, document, and prove these claims with Emperor’s New Clothes ease to point to obvious and objective facts anyone can see who cares to look…
Virginia Governor Terry McAuliffe, a longtime friend of the Clinton family, said this week that Hillary Clinton would support the controversial Trans Pacific Partnership (TPP) if elected president, despite claiming to oppose it—before walking the comments back and then doubling down on them again…
The biggest and most important bank in the biggest and most important country in Europe continues to implode right in front of our eyes. If you follow my work regularly, you probably already know that I issued a major alarm about Deutsche Bank last September. Subsequently, Deutsche Bank stock hit an all-time low. Then I sounded the alarm about Deutsche Bank again back in May, and once again that was followed by another all-time low for Deutsche Bank. And then I warned about Deutsche Bank again in early June, and you can probably imagine what happened after that. Over the past year, this German banking giant has literally been coming apart at the seams, and in so many ways it is paralleling exactly what happened to Lehman Brothers back in 2008.
Today, we got some more bad news from Deutsche Bank. Compared to the exact same period last year, profits were down 98 percent…