Stretching A Giant Rubber Band

In economic terms, capitalism features a characteristic called “creative destruction.” Coined by the Austrian-born American economist, Joseph Schumpeter in 1942, he considered it ‘the essential fact about capitalism’. Creative destruction refers to the incessant product and process innovation mechanism by which new production units replace outdated ones. In other words, the capitalist system improves itself and…

Democratic Socialism is Unachievable

“…democratic socialism, the great utopia of the last few generations, is not only unachievable but that to strive for it produces something utterly different – the very destruction of freedom itself. As has been aptly said: ‘What has always made the state a hell on earth has been precisely that man has tried to make…