American Enterprise Institute President Arthur C. Brooks published another book on free enterprise two years after he published The Battle. A pro-capitalist individual, I was very eager to get exposed to his arguments as to why a free enterprise system is better than what he refers to as a statist, social democratic or any system where there is more government than an entrepreneur would deem necessary. His most compelling argument – that free enterprise is moral. Continue reading
Tag Archives: capitalism
As you probably have noticed, I have been following the North Korean regime for quite a while. When Kim Jong-il died last year, and was to be replaced by his son – Kim Jong-un – I couldn’t help but notice the mainstream media’s reaction, as well as that of a lot of people. Namely, that they hope that the transition was for good, that Kim Jong-un is the new Deng Xiaoping, or in other words that North Korea will open up and become capitalist and free (or at least more capitalist and freer). This reaction is typical of the ignorance on the North Korean regime. A recent news article on the Huffington Post proves my point. Read defectors’ reactions, particularly:
None of the defectors Reuters spoke to believed the leadership would dare allow reforms that damage its grip. Some thought the Pyongyang elite had been scared by the disastrous 2009 experiment [the currency reform that was reportedly disastrous to the country’s “economy”].
Ayn Rand – a famous author and philosopher who wrote Atlas Shrugged, sometimes compared to The Bible for today’s world, and strongly revered by Conservatives and Libertarians – was dedicated a documentary titled “Ayn Rand: In her own words.” Continue reading →
Abstract: Nowadays Bulgaria is known as a former communist country that went through a transition period to a free-market economy. On November 10, 1989, a day after the fall of the Berlin Wall, the Central Committee of the Bulgarian Communist Party made the decision to strip Todor Zhivkov of his power. Bulgaria and the German Democratic Republic were not the only then communist countries whose governments collapsed in November 1989. Other Eastern Bloc countries went through the same in that month and the months after. What is the transition period? Does it vary on a case-by-case basis? If yes, which kind of transition is the best, if any? How are transition countries compared? What happened in Bulgaria during its transition period from a socialist economy to a free-market economy? How did the Bulgarian economy transition compared to some of the other transition economies?
This paper aims at answering these and similar questions. Part one explains the two different approaches on transition – shock therapy and gradualism – including how successful they were in several countries – Russia, China and Poland, picked on a random basis as positive or negative examples of one of the two approaches. Part two discusses the case of Bulgaria compared to other transition economies. Part three draws a conclusion on the case of Bulgaria from the conducted research. Continue reading →
“Running government like a corporation/business” is a comparatively frequently encountered expression especially within the American society before elections take place. Some may buy on the idea, others never have and will probably never do so. I sincerely hope that the notion of being able to run government like a business – big or small – never takes roots and here are the reasons why: Continue reading →
The American dream is not about just living in the United States. It is about political, social and economic freedom where the government is not the one to stay on one’s right to life, liberty and pursuit of happiness. On the contrary, the idea of the American dream is that there should be policies to protect the citizens from government’s imposing on their lives and instead promote creativity and entrepreneurship (the more neutral- and pleasant-sounding word for capitalism, for capitalism is perceived differently from different people). That’s how the Americans attract foreign investments and foreigners – through guaranteeing them freedom, honesty and integrity. The rest of the world – due to numerous factors and depending on the region we are talking about – hasn’t achieved that yet. Continue reading →
April 20 will always be an unforgettable date in my mind. On this day, the Bulgarians rose against the Ottoman Empire to liberate themselves from its tyranny; Adolf Hitler was born; a friend of mine from high school was born; and now a massive explosion at the Gulf of Mexico killed 11 people, caused and is still causing panic as the quantity of millions of barrels of oil have been spilled in the ocean so far and keep spilling causing a natural catastrophe and depriving fishermen and shrimpers from conducting their businesses there. Continue reading →
How does the economy work and what do we do about it? Now that it is struggling, more people are getting interested in its mechanisms. It is a complex system to which different tools can be applied which can help, hurt or have no impact over it. Depending on the tools being applied to a specific economy (local, regional, state, even world), nowadays it is divided into two types – free market economy and planning economy. Both of them have their advantages and disadvantages but the former has already been proven to be better than the latter. Continue reading →