Nathan Mayer Rothschild, likely didn’t say the “blood on the streets” quote, and further the story of him making a fortune at Waterloo likely isn’t true.
Capitalism is a system based on trade, profit, and private ownership as opposed to a system of common ownership and state control. Capitalism comes in a number of different forms, as long as individuals direct their own capital, it is capitalism.
Capitalism is to economics what democracy is to government, a system in which majority rule and individualism collide and excesses and deficiencies of liberty and equality are realized.
Factoids tagged with "Capitalism"
The long term capital gains tax is lower than other federal income taxes, including the capital gains tax and the income tax.
Extreme equality and an extreme inequality are both equally as dangerous in a democratic society. In both cases it corrupts the government.
Andrew Carnegie, John D. Rockefeller, and other Barons of Industry freely gave away most of their fortunes to charitable and philanthropic causes.
The United States is both a Republic and a Democracy. Specifically, the United States is a Constitutional FederalRepublic with a strong Democratic tradition and many democratic elements especially on a local level. Despite the democratic elements and traditions, the U.S. is not however a “Direct Democracy” (where people vote on laws directly*).
Venture capital, which was just emerging in the late 50’s, helped create companies like Intel, which in turn created Silicon Valley and startup culture.
Blog Posts tagged with "Capitalism"
In my opinion capitalism works because it is based around the built in incentive of capital. In capitalism, capital itself is an ever-present motivator. Producing capital is rewarded with capital, which inspires more capital to be produced. This is a feedback loop that drives the production of capital and the accumulation of excess capital.
Classical liberalism is the ideology of liberties, rights, individualism, reason, and tolerance that comes in a political and economic form.
Neoliberalism is an economically-minded evolution of classical liberalism focused on deregulation, trade, and the private market. It is a “middle way” or “third way” between liberalism and conservatism.
Labor and capital are economic terms that describe 1. workers and their labor power and, 2. capitalists and their material and financial capital.
We explain Marx’s conflict theory and other conflict theories to show how tension between social, political, material, and other forces manifest.
We define terms related to “the society of the spectacle” like commodity fetishism, consumerism, “proletarianization,” and alienation.
We explain the “vast-right wing conspiracy” (or right-wing strategy) that Hillary talked about in the 90s (and the left-wing equivalent).
We look at the effect of the black voter and black suffrage on the balance of political power in the two-party system.
Social Capitalism can be defined as a socially minded form of capitalism, where the goal is doing social good, rather than just the accumulation of capital.
Liberalism is the political ideology of liberty and equality, where classical liberalism emphasizes individual liberty and social liberalism emphasizes social equality.
We present a simple guide to Marx, Marxian class theory, Marx’s theory of history, and Marx’s economic theories to help westerners understand what Marx was all about.
“Civil Religion” is the civic “religion” of a nation. It doesn’t describe the theological religion of a nation, but rather a quasi-religious shared identity built around national symbolism and customs.
We explain neoliberalism, globalization, nativism, and protectionism and the pros and cons of “neoliberal globalization” and “nativist protectionism.”
Below we explain how currency gets into circulation via the Treasury, Federal Reserve, and banks, and the role Congress, banks, businesses, and you play in the process.
We explain two types of special interests: cronyism (politicians working with corporate interests) and monopolies / oligopolies (the consolidating of corporate power in a given industry to one or few entities).
We explain populism, globalization, nativism, nationalism, neoliberalism, modernization, and other terms important for understanding modern world politics.
The United States is a Federal Republic with democratic values that some claim contains a growing oligarchy (or corporatocracy). We look at those claims.
We explain economic inequality from a historical perspective, and then consider the effects of wealth inequality and income inequality in America today.
Book Reviews tagged with "Capitalism"
Karl Marx’s “Das Kapital” or just “Capital” explains the nature of capitalism. From the purposes of commodities and money, to how they function in society as capital, to how this relates to wage labor, “Capital” is a detailed work on the philosophy, history, and mechanics of economics.
We explain the general idea behind Thomas Piketty’s Capital in the Twenty-First Century and offer links to summaries and the full text.
We explain Oscar Wilde’s The Soul of Man Under Socialism to illustrate his prophetic take on non-authoritative individualist socialism.