CAPITALISM NOT ONLY PROMOTES FREEDOM. CAPITALISM IS FREEDOM. I’d like to start of this week’s newsletter by first defining the term ‘capitalism’, by capitalism I mean, an economic system based on the private ownership of the means of production and their operation for profit, with minimal interference from the state. A system that is built on a free exchange of goods, services, ideas and money, and where distribution of these is based on supply and demand, not central planning.
Great points! Have you heard about the baseball card analogy? Similar to the pencil, paints a really good picture of why central planning usually backfires, even if you were to pick the smartest possible people to plan it.
Great points! Have you heard about the baseball card analogy? Similar to the pencil, paints a really good picture of why central planning usually backfires, even if you were to pick the smartest possible people to plan it.