My Reference Frame » capitalism

Why people hate capitalism.

AK — Thu, 07 Aug 2008 22:59:32 +0000

If you want to know why so many people hate capitalism even though the capitalist system of economic management has allowed humanity to raise it’s standard of living by leaps and bounds since it was first implemented read The Anti-Capitalistic Mentality by Ludwig von Mises.[1] von Mises was an influential Austrian economist of the 20th century [...]

Why people hate capitalism. is a post from: My Reference Frame

What are economic value and capital?

AK — Mon, 14 Jul 2008 17:36:35 +0000

Value is the material result of ideas applied to physical reality to yield a good or service that enhances human life. For example, if three people are on a deserted island, the person who decides to collect materials to build a shelter and does it has created economic value. Why? Because for human life, having shelter is generally better [...]

What are economic value and capital? is a post from: My Reference Frame