In a free market, private individuals own the means of production but must take their cues from consumers.
capitalism
April 4, 2024
2:30AM
With no carrots in the form of market incentives, socialist leaders deployed a terrifying array of sticks.
January 21, 2022
11:15AM
Businesses can only succeed by benefiting their customers—unless granted special treatment by government.
February 7, 2015
10:00AM
In a recent column from a Toronto journalist on communism and capitalism, the writer made an astonishing claim: While “millions have been the tragic victims of communism,” he wrote, “that number pales, surely, in comparison with the victims of capitalism.”
November 23, 2013
2:00AM
"Travel", said Francis Bacon, "is part of education for the young and a part of experience for those who are older." But there is an additional benefit from a journey outside of one's own borders: a reminder of why certain places function better than others.
In a recent trip to Hong Kong, I met with a plethora of civil servants, some politicians and a few business people, all with an obvious interest in the future of that territory. My purpose was simple: to get a sense of how that territory has held up in the face of massive change occurring in China proper.
September 28, 2010
6:00PM
In Fidel Castros recent interview with Atlantic Monthly columnist Jeffrey Goldberg and in response to the question, Is the Cuban economic model still worth exporting?, the retired dictator made this admission: The Cuban model doesn't even work for us anymore.
Several days later, Castro backpedalled. He claimed he actually meant the opposite. My idea, said Fidel, is that the capitalist system no longer works for the United States or the world. How could such a system work for a socialist country like Cuba?
