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  • Capitalism: On Our Side - 668 words
    Capitalism: On Our Side? In the twenty-first century efforts need to be made to enhance the benefits of capitalism. This system has been able to improve the lives of many Americans. Critics however, point out that the improvements have come at a high cost. Specifically, they point to the amount of damage done to the environment. Although capitalism has raised the standard of living, because of the damage done to the environment capitalism is a wasteful system. Throughout history capitalism has raised the standard of living for many individuals. As former University of Vienna economics professor Ludwig von Mises says, "Modern capitalism is essentially mass production for the needs of the mass ...
    Related: standard of living, mass production, energy consumption, vienna, howard
  • Economic History Of Property Rights - 1,491 words
    Economic History of Property Rights The bases of every market are the property rights of the individuals that participate in the market. Without property rights there would be no exchange and difficult to establish contract laws. Property rights were taken for granted for much of history and are now used to establish all sorts of theories, philosophies and regulation. Two excellent examples of this are the Libertarian political party and the Coase Theorem. As for the value of these two applications of private property it is important to evaluate the practicality of them. To understand both two separate historical figure will be consulted. The first being Ludwig Von Mises and his study of Lib ...
    Related: economic history, history, private property, property rights, states history, united states history
  • Free Market Defense - 1,124 words
    Free Market Defense Ludwig von Mises: Defender of the Free Market Ludwig von Misis thoughts on human behavior, socialism, and money and credit have had a major impact on economic thought. He championed true free markets and is seen as a defender of liberty. Former President of the United States Ronald Reagan said "Ludwig von Mises was one of the greatest economic thinkers in the history of Western Civilization. Through his seminal works, he rekindled the flames of liberty. As a wise and kindly mentor, he encourages all who sought to understand the meaning of freedom. We owe him an incalculable debt"(Mises Institute). The remainder of this paper will outline the life of Ludwig von Mises. This ...
    Related: free market, market, factors influencing, international studies, science
  • Free Market Defense - 1,122 words
    ... redit expansion) is inflationary, redistributive, distorts the economic system, and amounts to stealthy and insidious robbery and expropriation of all legitimate property owners in society (Rothbard). The business cycles of booms and busts that monetary inflation causes are even more damaging to society. When government inflates, it lowers the interest rate below the proper market level, which is dependent on saving. The artificially low interest rate misleads businesses into making uneconomic speculative investments and creates an inflationary boom. When the credit expansion slows or stops, investment errors are revealed bankruptcies and unemployment result. Central banks like the Feder ...
    Related: free market, market, market economy, exchange rates, labor unions
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