“Needless to say, this idea that the origin of prosperity is hard work and frugality was exhaustively formulated by Adam Smith in The Wealth of Nations. Among the many reflections that highlight this idea of Smith’s, the following is very… — Axel Kaiser Copy Share Image
“Let us then move on to what may be considered as the mother of all anticapitalist myths: the idea that the so called “business… — Axel Kaiser Copy Share Image
“the only way in which a whole country may save is by reducing its consumption. Consumption is therefore the destruction of wealth, whereas savings makes it possible to multiply it. Let us take a similar example to that given by the great Austrian economist, Eugen von Böhm-Bawerk, to illustrate how underconsumption —savings— is what permits the formation of the so-called… — Axel Kaiser Copy Share
“the primordial artifact- of the Kaaba of canonical economics today is the claim that the free market somehow caused, and failed to cure, the… — Axel Kaiser Copy Share Image
“Needless to say, this idea that the origin of prosperity is hard work and frugality was exhaustively formulated by Adam Smith in The Wealth… — Axel Kaiser Copy Share Image
