By: Daniel Engerer A popular economic mantra of the political left is that “profit is exploitation”. Specifically, this idea means that for profit to occur (and for a business to even survive), workers must get “scammed” (by their capitalist overlords) out of a portion of the value that they created. In other words, profit (or … Continue reading Is Profit Exploitative?
Michael takes the offensive once again to attack Danny on his views that the all powerful invisible hand of the free market can solve the ailments of the world. Find out whether Danny has what it takes to defend against criticisms of capitalism like profits as exploitation, labor mechanization, child labor, and monopolies in our … Continue reading FF026: Profit is Exploitation
Danny and Michael visit desert island to learn about the basics of economics, play with coconuts and mangos, and explore why capitalism naturally follows if one accepts the tenets of voluntaryism. Non-excludible good is the term that Michael was fishing for that refers to the concept of a public good. Scientists convert C02 to ethanol … Continue reading FF008: Desert Island Econonomics