Cafe Hayek — where orders emerge

Cafe Hayek — where orders emerge.

…he’s quite sure that something in the nature of capitalism practically assures that [interest on capital] will almost always grow faster than [the overall economy].

Yet capitalism has been around for more than 200 years and the living standards of the masses have skyrocketed – arguably by more than have the living standards of the rich. Salvation from starvation and moving into dwellings with hard floors and solid roofs (rather than sleeping on straw and dirt beneath rodent-infested and highly flammable thatched roofs) is a far greater improvement in absolute living standards…

So why is capitalism waiting to start its practically inevitable impoverishment of the masses? What’s with the delay? Why do even the poorest people in capitalist society continue to grow absolutely wealthier (measured as it counts: in their ability to consume real goods and services)?

About The Jade(d) Warrior

Decades of walking the path of the warrior in service to noble ideals leaves one, well...jaded.
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