A Discussion of Thomas D. Simpson’s Capitalism versus Socialism “Preface” Some years ago the author of the next book I am going to discuss, Thomas D. Simpson, was asked to give a talk about the different economic systems and which were most compatible with biblical teaching. Out of the research for that talk,…
Tag: Government
Why We Bite the Invisible Hand
The Deep, Dark Roots of Politics: Using Others to Help Ourselves
A Discussion of Peter Foster’s Why We Bite the Invisible Hand Chapter 13 “The Chimpanzee in the Room: Darwinian Politics” In an earlier chapter, Foster has discussed the origins of the instinct to trade. While trading seems natural to people, the disconnected and abstract modern economic system today challenges our…
Why We Bite the Invisible Hand
Do We Want the Government Nudging Us?
Part 2 of a Discussion of Peter Foster’s Why We Bite the Invisible Hand Chapter 12 “Homer Economicus” In the last blog, we explored Foster’s critique of behavioral economics, and now we will see how its incorrect diagnosis of the problems in economics has led to conclusions for more economic…
Why We Bite the Invisible Hand
Keynesianism: Regulating the Free Market to Death
Part 3 of a Discussion of Peter Foster’s Why We Bite the Invisible Hand Chapter 10 “The Rise and Fall and Rise of John Maynard Keynes” Just as the bad economy of the 1970s precipitated the end of Keynesianism and the rise of neoclassical economics, the 2008 financial crisis, the…
Why We Bite the Invisible Hand
Keynesianism: Why We Think We Can Spend Our Way Out of a Recession
Part 2 of a Discussion of Peter Foster’s Why We Bite the Invisible Hand Chapter 10 “The Rise and Fall and Rise of John Maynard Keynes” Continuing on from the previous blog, we will look deeper into Keynesianism in the 20th century and what led to its fall and the…
Why We Bite the Invisible Hand
Keynesianism: The Appeal of a Theory that Empowers Experts
Part 1 of a Discussion of Peter Foster’s Why We Bite the Invisible Hand Chapter 10 “The Rise and Fall and Rise of John Maynard Keynes” Foster next turns his attention to John Maynard Keynes, a highly influential economist of the 20th century, because he sees the Keynesian theories that took hold as…
Why We Bite the Invisible Hand
Grave Inequality: Smith’s Final Resting Place Lost to Government Run Obscurity While Marx Generates Profits
Part 2 of a Discussion of Peter Foster’s Why We Bite the Invisible Hand Chapter 2 “The Sage of Kirkcaldy” In the first part of my discussion of this chapter, we looked at what Peter Foster told us about Adam Smith’s life and the developoment of his ideas that we know today…
1913
The Next Turning Point
A Discussion of Oliver DeMille’s 1913 Chapter 13 “The Last Turning Point” As Oliver DeMille concludes his book, he titles his last chapter, “The Last Turning Point,” which I find bleak, though perhaps that was not the intention. I prefer the idea of the next turning point. He opened his…
1913
A Lazy People Cannot Remain Free
A Discussion of Oliver DeMille’s 1913 Chapter 12 “Free Citizens Read the Fine Print” If you are familiar with the U.S. government system at all, you know a key idea of the Founders is to use checks and balances to divide power. The Senate contends with the House. Both together…
1913
We Are Blind to the True Value of Our Freedom
A Discussion of Oliver DeMille’s 1913 Chapter 11 “Essential Freedom” Oliver DeMille has detailed in his book how we took a turn away from freedom in 1913, and for that reason he focuses on the importance of freedom in this chapter. How can we regain our freedom if we do…