Plus: Alexander Hamilton's Liberalism: Distinguishing Fact and Myth

The
Capitalism
Newsletter

Congress Seeks To Boost Teen Joblessness By Increasing The Minimum Wage ([link removed])
By Richard M. Salsman

A mandatory minimum wage rate, to the extent it’s set above the market-clearing wage rate, causes unemployment.

"The greatness of America is not an “ethnocentric” prejudice; it is an objective fact. This assessment is based on the only proper standard for judging a culture or a society: the degree to which its core values are pro- or anti-life. Pro-life cultures acknowledge and respect man’s nature as a rational being who must discover and create the conditions which his survival and happiness require — which means that they advocate reason, rights (freedom), and technological progress. "
Edwin Locke

THIS MONTH ON CAPITALISM MAGAZINE


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Dear Anti-Capitalist Billionaires, Why Wait For a Wealth Tax? Contribute Your Money Now! ([link removed])
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On June 24, 2019, nineteen billionaires released a letter to the media entitled “A Call to Action: A Letter in Support of a Wealth Tax.” They urged potential presidential candidates to campaign for and, if elected, implement a new wealth tax that would strengthen America. I hereby offer my own letter in response.


** The Pinochet Slur Against Free Market Scholars: Academic Repetition of a Lie ([link removed])
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In each and every case, the aforementioned authors carelessly repeat a claim that they want to believe and that affirms their political priors. No effort is made to check sources or investigate whether the claim itself is reputable.



** Alexander Hamilton’s Liberalism: Distinguishing Fact and Myth ([link removed])
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Hamilton is an Enlightened, classical liberal, a more consistent champion of rights and liberty than any other Founder, thus an inspiring model for contemporary friends of liberty.



** The Mythology Behind The Dishonest “New History of Capitalism” Slavery Smear ([link removed])
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Edward Baptist, Ta-Nehisi Coates, and others of the “New History of Capitalism” demonstrate their ignorance in their dishonest attempts to associate American capitalism with slavery.



** Socialist Freebies Promised By Politicians Come At The Expense of Real Freedom ([link removed])
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The freebies approach to political campaigning and policymaking brazenly panders to mooching and, by expanding the size, scope, and power of government, also institutionalizes looting.


** The Let-Alone Principle ([link removed])
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“[T]he political system is most conducive to the public good in which the rightful liberty of the individual is least abridged.”


** The Federal Death Agency (FDA) ([link removed])
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The path to genetic cures and radical life extension begins with the abolition of that Servant of Death: the FDA.


** Replace Social Security Ponzi Schemes with Private Savings Accounts ([link removed])
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Social Security is running out of money. You may not believe that, but it's a fact. That FICA money taken from your paycheck was not saved for you in a "trust fund." Politicians misled us. They spent every penny the moment it came in. This started as soon as they...


** High Crime Black Communities Need Law and Order, Not Political Rhetoric ([link removed])
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Today’s level of lawlessness and insecurity in many black communities is a relatively new phenomenon. In the 1950s, ’40s, ’30s and earlier times, people didn’t bar their windows.


** ‘Veggie Burger’ Ban: Mississippi’s Unconstitutional Advertising Restrictions ([link removed])
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The government has no power to keep consumers in the dark—or to prohibit the use of terms that consumers understand—in order to protect special interests from honest competition.


** Individualism is the Political Foundation of Healthcare ([link removed])
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Individualism remains the best tool to deny government the power to force us to buy health insurance in general or forbid the purchase of the kind of health care plan we prefer.


** New Evidence that Soaring Inequality is a Myth ([link removed])
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How a political push to justify increased taxation has afflicted the entire economic inequality debate.


** Protecting IP with Tariffs: A Recipe for Cronyism Costumed as Ethical Law Enforcement ([link removed])
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Do Allegations of Intellectual-Property Theft Justify Protective Tariffs?


** The Capitalist Achievement and Music: How The Free Market Helps Us Live Like Kings ([link removed])
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The capitalist achievement is progressive downward diffusion of things the rich and privileged take for granted that so many others couldn’t dream of.


** Laffer Gets Laughable ([link removed])
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If we can’t kill it entirely, we should be thinking about ways to make the Fed less political, not more.


** Things Haven’t Always Been This Way ([link removed])
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Police and laws can never replace moral values as restraints on personal conduct.



** America and the Israeli-Palestinian Conflict ([link removed])
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The actual injustice is that America has sold out the region’s only free society, Israel—along with freedom-seeking people across the Middle East and among the Palestinian community—while empowering jihadist forces.


** The Contempt for Free Speech on College Campuses ([link removed])
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The true test of one’s commitment to free speech comes when others are permitted to say and publish ideas they deem offensive.


** The Statistical Problems Behind Piketty and Saez’s Claims of Spiraling Inequality ([link removed])
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Instead of assuming that we’re in the midst of a surging inequality crisis, we should first settle more fundamental issues affecting the accuracy of our measurements over the past century.


** Reason, Freedom & Science: July Fourth Celebrates America’s and the West’s Core Values ([link removed])
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There are three fundamental respects in which Western culture is objectively the best


** Put the Independence Back Into Independence Day ([link removed])
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That is the meaning of independence: trust in your own judgment, in reason; do not sacrifice your mind to your neighbors, the church, the race, the state, or the nation.


** A Wealth Tax on the Rich Is Motivated By Anti-Capitalist Ideology and Not Economics ([link removed])
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Is a proposed federal wealth tax on the ultra-rich the solution to America’s budget-deficit woes?


** Democratic Party “Progressive” Promises and the Cost To Liberty ([link removed])
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Keep in mind what “progressive” means in this political context: an increase in the size, scope, and cost of government in American society.


** Democratic Candidates are Paving The Way For a Trump Victory ([link removed])
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These two debates, in which the candidates fell over themselves offering free stuff, had one clear winner: President Donald Trump.


** Universal Health Care Freedom on the Fourth of July ([link removed])
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"Universal Health Care" is the increasing drumbeat of advocates who want Americans to place all responsibility for their health care in the hands of government.


** Protectionists in Plunderland ([link removed])
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If we Americans are indeed made better off the greater are foreigners’ demands for our exports, how are we made worse off by foreigners’ economic success given that such success invariably increases their demands for our exports?


** It Wasn’t Coercion That Made America Great, But Freedom ([link removed])
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America will do best if we remember that the Declaration of Independence talks about “limited” government and reminds us that every individual has inalienable rights.


** Worse Than Racists ([link removed])
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Chief among the policies that reward inferiority and irresponsibility is the welfare state.
CAPITAL READING

Keeping It Real: Bringing Ideas Down to Earth ([link removed])
by Leonard Peikoff, ed. by Barry Wood (540 pages)

Offers invaluable advice on how to apply broad philosophical principles to the real-world decisions we have to make every day.

"Leonard Peikoff, Ayn Rand’s longtime friend and heir, provides a wealth of practical counsel on personal relationships, child-rearing, career problems, politics, sex, and many other topics. His answers to hundreds of questions—taken from the first five years of his former podcast—highlight the importance of ensuring that the principles we claim to live by do not float in our minds as useless wordplay, but rather guide us in action toward our personal, selfish happiness here on earth."

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