Capitalism, Not Socialism, Creates Prosperity

Capitalism, Not Socialism, Creates Prosperity Dear D: We always have to be careful to distinguish “A preceded B” from “A caused B.” At least sometimes, B occurred despite A, even though A came first. The best way to make this distinction is to resort to good (e.g., Austrian) economic theory. We learn from that, at least I do, that prosperity stems from free enterprise, not government intervention. We are richer now than we were in not only the 1950s, but also the 1850s and the 1750s, despite the fact that we have more statist interferences with free enterprise nowadays. So, … Continue reading Capitalism, Not Socialism, Creates Prosperity