Extra Legal Markets: Difference between revisions
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==Capitalism== | ==Capitalism== | ||
Capitalism stands alone as the only feasible way to rationally organize a modern economy. Capital is the force that raises the productivity of labor and creates the wealth of nations. Many of the inhabitants of Third World and former Communist countries already have the assests they need to allow for the success of Capitalism. Even in the poorest of countries people save. The reason why these countries fail is because they hold their resources in defective forms. Because the rights to these resources are not adequetly recorded, | Capitalism stands alone as the only feasible way to rationally organize a modern economy. Capital is the force that raises the productivity of labor and creates the wealth of nations. Many of the inhabitants of Third World and former Communist countries already have the assests they need to allow for the success of Capitalism. Even in the poorest of countries people save. The reason why these countries fail is because they hold their resources in defective forms. Because the rights to these resources are not adequetly recorded, these assests can not be readily turned into capital. The difference between assests held in the U.S. and assests held by poorer countries is representation. Without representation, their assests are dead capital. | ||
Revision as of 20:19, 2 December 2006
The Mystery of Missing Information
The Mystery of Capital
Capitalism
Capitalism stands alone as the only feasible way to rationally organize a modern economy. Capital is the force that raises the productivity of labor and creates the wealth of nations. Many of the inhabitants of Third World and former Communist countries already have the assests they need to allow for the success of Capitalism. Even in the poorest of countries people save. The reason why these countries fail is because they hold their resources in defective forms. Because the rights to these resources are not adequetly recorded, these assests can not be readily turned into capital. The difference between assests held in the U.S. and assests held by poorer countries is representation. Without representation, their assests are dead capital.
