Based on my personal observations, some people are overly negative about US economic results and living standards. They’re sure the poor are getting screwed, the middle class is stagnant, and economic success is no longer possible. They usually display this negativity in complaints about capitalism. Maybe this negativity is the anti-capitalist’s way of denying that … Continue reading Good news on poverty
My last post discussed how much profit is ‘normal.’ Sticking with the profit theme, this time I’ll try to explain why profit should not be a dirty word. I will make the case that profit is nothing to be ashamed of. Profit serves useful purposes and is needed to achieve broad prosperity. Dislike of profits … Continue reading Why profit is not a dirty word
I’m used to the fact that some people have misperceptions about various economic issues. For example: The rich don’t pay their fair share of taxes (here). Price-gouging in a crisis is wrong (here). The middle-class standard of living has stagnated since the 1970s (here). I’m also aware that some people have misperceptions about business profits, … Continue reading How much profit is normal?
Are electric vehicles (EV’s) inevitable? Some people think so. The most ambitious forecast I’ve seen predicts that 95% of automobile miles driven in the US will come from EV’s by 2030. That’s a steep climb from today, when EV’s account for roughly 1% of new vehicle sales. Early days EV’s are not new. The early … Continue reading Are electric cars inevitable?
Pope Francis has made several comments that are at least somewhat anti-capitalist. This is not totally surprising, since he hails from one of the most anti-capitalist countries on the planet, Argentina. He is not alone. Others have also questioned whether capitalism is compatible with Christianity. This then becomes a reason to criticize capitalism. Is capitalism … Continue reading Is capitalism compatible with Christianity?
Some people believe that corporations in a capitalist economy wield tremendous power. Hollywood movie plots reinforce this view by depicting corporations as powerful and shadowy entities. Is this accurate? Not really. In the real world, (a) corporations wield far less power than imagined, (b) consumers and employees hold more power than they think, and (c) … Continue reading With capitalism, who holds power?