Articles & Blogs, Category = Capitalism & socialism

Category: Capitalism & socialism

Capitalism May Be under Fire, But Competition Is Extremely Popular

“Competition is a central tenet of a market economy. As long as scarcity exists, not all wants can be fulfilled, so economic actors must compete for scarce resources.

This is, of course, something far more straightforward to those versed in economic theory than it is to the average consumer. It’s interesting, therefore, to examine what the public thinks about competition between businesses. Thanks to the latest Flash Eurobarometer, we can do just that.”

No, Walmart Is Not Evidence that Centrally-Planned Economies Work

“Their argument is essentially this: free-market economists are wrong to denounce the possibility of economic planning, because major companies such as Amazon and Walmart plan extensively every day. […] The problem, in Phillips and Rozworkski’s view, is that these planning tools are currently being put to the ends of generating profits. But what is profitable is not always socially useful. […] Therefore, they conclude, what we need is a planned socialist economy harnessing the techniques of Walmart and others to socially productive ends. It’s difficult to know where to start with this line of reasoning.”

Monopoly Was Designed 100 Years Ago to Teach the Dangers of Capitalism

“At the start of the 20th century, children were part of the regular workforce. They possessed few toys. When U.S. manufacturers created games, they built them to market to parents: to teach as well as to entertain. Progressive writer Elizabeth Magie Phillips created Monopoly in 1904 to teach players about the dangers of wealth concentration.”

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