Tag Archives: Free Market

Shanghai’s History a Tale of Successful Capitalism

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“Under a regime of limited government, low taxes, and economic laissez faire, Shanghai became the most prosperous metropolis in all of Asia. The standard of living, including that of Chinese residents in the International Settlement and in surrounding Chinese-administered areas, was the highest in East Asia. It was this free market environment that created that Western-style skyline that in the 1930s was considered the Asian rival of New York. The city also became the focal point for the Chinese intellectual community as well as a Chinese cultural center – and one in which freedom of speech and press were protected for all, Westerner and Chinese alike.”

http://www.thedailybell.com/editorials/34905/Richard-Ebeling-Shanghais-History-a-Tale-of-Successful-Capitalism/

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Bill Bonner: Is This Capitalism’s Achilles’ Heel?

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“The critics presume capitalism follows certain rules. People are said to be ‘rational actors.’ They are said to want to increase their wealth. They are said to always try to optimize their time and money.  If that were the definition of a real capitalist, we have never met one. Instead, the people we know function in a world of floating ambitions and ambiguous decision-making.  People have many different goals in life; making money is just one of them. One wishes to make a lot of money. Another is more concerned with his family. Another finds the pursuit of money vulgar.  Not knowing what people want, it is impossible to know whether they pursue their goals rationally or irrationally.”

http://www.bonnerandpartners.com/is-this-capitalisms-achilles-heel/

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Bill Bonner: Are Pope Francis, Bill De Blasio and Barack Obama Right?

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“People think the rich are capitalists and that capitalists are rich. Not so. A real capitalist takes losses as well as gains. He makes mistakes… and pays for them himself.  Sometimes it’s not about the money. Often, he doesn’t know how much he’s got… and doesn’t care. It’s the journey he likes, not necessarily the destination.  The capitalist is misunderstood. So is capitalism. It is not so much a system; it is what happens when there is no system. It is what people get up to when they are left to their own devices.  Good? Bad?  We don’t know… but it’s better than being told what to do by some jackass with his own agenda.”

http://www.bonnerandpartners.com/are-pope-francis-bill-de-blasio-and-barack-obama-right-about-capitalism/

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25 Accidental Inventions That Changed The World [2012]

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“Not long ago we came to you with 25 inventions that changed our way of life. Well, we’re back, but this time we’re only concerned with those inventions that no one actually intended to invent. So, from dynamite to Penicillin these are the top 25 accidental inventions that changed the world.”

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Beyond bitcoin: Inside the cryptocurrency ecosystem

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“So far, one feature has been more important than any other in helping any altcoin build user buy-in: honest, transparent, and relatively selfless behavior by its developers. Litecoin lead developer Charlie Lee made great efforts to ensure cryptocurrency supporters’ awareness and access at Litecoin’s launch, when any cryptocurrency is easiest to mine.  In part thanks to this push for fairness and openness, litecoin is now the second-biggest cryptocurrency after bitcoin. Creator Sunny King similarly released the sourcecode for his peercoin nine days before mining opened in August of 2012.  Peercoin is currently the third-ranked cryptocurrency.”

http://finance.fortune.cnn.com/2013/12/24/bitcoin-altcoin-cryptocurrency/

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Arizona Dispensaries Sold 2.5+ Tons of Medical Marijuana in First Year

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“Arizona’s medical-marijuana dispensaries sold more than 2.5 tons of marijuana in the past 12 months, officials say.  From December 6th, 2012 — opening day for the state’s first state-authorized dispensary, Arizona Organix — to December 9th of this year, 5,279 pounds of marijuana were sold, according to the Arizona Department of Health Services. The health department provided the numbers this morning following a New Times records request made last month.  Online records show 77 dispensaries are now open across Arizona, with a few more scheduled for openings in early 2014. Voters approved Arizona’s medical-marijuana law, which authorizes the shops, in a 2010 ballot initiative.”

http://blogs.phoenixnewtimes.com/valleyfever/2013/12/arizonas_legal_dispensaries_so.php

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Jeffrey Tucker: Bitcoin In Depth

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“Gus Demos of https://www.perpetualassets.com/ Interviews Jeffrey Tucker of Laissez Faire Books, http://lfb.org/ & CEO of Liberty.me, http://liberty.me/ Join us for an in depth discussion of Bitcoin. Mr. Tucker’s thorough investigation of Bitcoin over the years has made him an expert on the Crypto-currency. Today he shares all.”

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Overstock CEO: money ’too important to leave to government officials’

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“Overstock.com Inc., an online discount retailer, is preparing to accept the virtual currency bitcoin as payment in the second half of 2014, according to Chief Executive and Chairman Patrick Byrne.  The news was first reported by the website newsBTC, and confirmed in a Thursday morning phone interview with Byrne.  The project is in an early stage, with no decision yet on whether Overstock.com would work with bitcoin companies to allow bitcoin payments or create its own system. A team of six to 12 people is expected to work on bitcoin payments at the company, said Byrne.”

http://blogs.marketwatch.com/thetell/2013/12/19/overstock-com-to-accept-bitcoins-ceo-says-money-is-too-important-to-leave-in-the-hands-of-government-officials/

 

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South Africa and Ending Apartheid: The Free-Market Road Not Taken

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“Many private businesses in South Africa were interested and willing to employ black workers and invest in their training and acquisition of more highly valued marketable skills. However, the Afrikaner government used its regulatory and fiscal tools of control and intimidation to ‘keep in line’ white employers who saw economic gain by ‘crossing the color line’ in their businesses and enterprises. Thus, it was political goals of the South African government and not the market motive of profit that prevented black South Africans from having the opportunities to rise more out of poverty through peaceful competition and cooperative commercial association.”

http://www.thedailybell.com/editorials/34842/Richard-Ebeling-South-Africa-and-Ending-Apartheid-The-Free-Market-Road-Not-Taken/

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Jeffrey Tucker: Why We Love “The Nutcracker”

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“How could they have known? Nothing like this had ever happened. And so this late-nineteenth-century generation was innocent and delightfully so. To this generation, the injustices they intended to purge from the world were slavery, remnants of the bondage of women, the perpetuation of feuds and duels, the despotism of the monarchical class, debtors prisons, and the like. What they could not imagine was the much vaster injustice that was just around the historical corner: mass use of poison gas, universal enslavement of the wartime draft, famine as a war tactic, the gulag, the Holocaust, mass incineration at Hiroshima and Nagasaki.”

http://www.fee.org/the_freeman/detail/why-we-love-the-nutcracker

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