Historical Economics

The 20th Century Debate of Economics

The great economic debate that has been going on here in the United States and elsewhere has been between free-marketers and collectivism. In one sense we can assume that free-markets have won, in another sense, capitalism is far from vanquishing collectivism. Two great events have had a major impact on the rise of collectivism during the 20th century, the First World War followed by the rise communism, state facism, Nazism and even the rise of Islamic facism that we face today. These events gave focus to many who believe that a handful of people in government can manage affairs better than free people. This has given rise to a massive increase in government power. Huge tax increases gave bureaucrats the idea that they could achieve massive increases in production by commandeering the financial resources of society. Read the rest of this entry »

The Business Cycle

Few Americans,  even business owners or entrepeneurs who have been schooled in basic economics, really understand the effect that “business cycles” have on our country and on history. The average American may have a fairly broad view of history and not understand the effect of economics on history. Conversely, many americans may have a good general knowledge of economics and not know the the part it has played in a broad historical context. It is my feeling that to understand business cycles and to place them in the proper position to their historical context is crucial to an understanding of our politcal system and our way of life. Read the rest of this entry »

   

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