Whether such a system social security is a good or a bad policy is essentially a political problem. Once may try to justify it by declaring that the wage earners lace the insight and the moral strength to provide spontaneously for their own future. But then it is not easy to silence the voices of…
Read moreMises on the Fruits of Capitalism
The history of capitalism as it has operated in the last two hundred years in the realm of Western civilization is the record of a steady rise in the wage earners’ standard of living. The inherent mark of capitalism is that it is mass production for mass consumption directed by the most energetic and far-sighted…
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