The most popular argument for a free-market economy is that it encourages innovation. “Under the damn commie regimes,” it is said, “they can’t invent anything because they don’t have a financial incentive to do so.” While this is a massive over-simplification, there is no doubt an element of truth to it. History certainly shows aContinue reading “A Drawback To Capitalism”
The response to the coronavirus pandemic with businesses being forced to shut down, whether prescriptively or incidentally, raises some questions in the centuries long debate between socialism and capitalism. As a person on the right who is skeptical about strong preferences for either system this exaggerated crisis provides an interesting case study.
Who would you rather run our country, electable officials who are nominally accountable to the American people or corporate executives who are definitely not?