Tag Archives: Capitalism

How Capitalism Enriches The Poor And The Working Class

When portable radios first appeared in American stores, the average American worker had to labor 13 hours to buy one; today he or she toils for about 1 hour. In the 1920s it took 79 hours of work to buy a nice men’s suit; today it takes less than half that. At the beginning of…

Continue Reading →

Political Theory: Theory of Government

Political theory is the theory of government. It is a sub-branch of ethics, and economics, in turn, is a sub-branch of politics. Ethics — the science of human action — precedes politics because politics is the science of human action in societies, and societies are composed only of individuals. For this reason, the individual has…

Continue Reading →

What Causes Such Shocking Poverty?

Did you know there’s never been a real famine in the United States? One thing alone is responsible for that fact, and that one thing is this: Private property rights. It is the absence of fully protected property that creates poverty. As the brilliant Peruvian economist Hernando de Soto puts it in his book —…

Continue Reading →

Reader Mail

A reader writes: Dear Ray Harvey! You are a true friend to the workingman, such as me. Your book Leave Us Alone should be required reading in our schools. Don’t you get sick and tired of capitalism being everyone’s escape goat, like I do? The halls of congress are crowded with representatives of the “X”…

Continue Reading →

Laissez Faire and Hong Kong

Laissez faire is a social system based upon private ownership of the means of production and the preeminence of the individual over the group. The word capitalism was popularized by Karl Marx, in the 1850’s. Marx used it to denounce private ownership of the means of production and the autonomous workings of the free market.…

Continue Reading →

Page 2 of 2