Northern Dragon

… life in the twilight years of modern-day democracy …

Tag Archive for ‘free market’

6 Comments

A Tale of Two Cookies – Economics 101

Today, I am following up with a new post in a series, which is delving into the foundations of modern-day capitalism. We have already seen how the accumulation of wealth is built into the very structure of the system, and how the incessant call for privatisation – far from being a way of making the public service sector more efficient – is generally merely an excuse for further concentration of wealth and power. Now, let us dig one level further down again. Into the world of the science behind it all…

Continue Reading →

13 Comments

Binding the Beast

In 1776 the Scottish economist and philosopher, Adam Smith, released his magnum opus, “The Wealth of Nations” and laid the foundation for classical economic theory – and modern Capitalism. The world at that time was significantly simpler in many ways than it is today, and our knowledge of economics, sociology, and politics has advanced considerably since then. But underneath all of our modern-day complexity, the economic foundation is the same: […]

Continue Reading →