In feudalism, political and economic elements merge seamlessly. The upper class controls the government, the production of goods, and the distribution of goods. Power is an offshoot and natural outcome of either being into the power born or through the granting of power contracts. Ordinary citizens work for the benefit of the upper class. The [...]

Reaganomics refers to the economic policies that marked the presidency of Ronald Reagan who became US president during ‘stagflation,’ a period known for high inflation and unemployment. The four cornerstones of Reaganomics, a set of policies and economic view, are: reduction in the growth of government spending, reduction in marginal tax rates on income from [...]

There are indicators of socioeconomic well-being, and all these are materially measured. They may all contribute positively to a person’s comfort, convenience, mobility, freedom, and further opportunity in life. On the other hand, these material manifestations are not distributed equally in society. That is why if these provide advantage to one person who has more [...]

When income does not go to savings, it generally ends up in the realm of consumption. The principle of consumption rests on the concept of disposable income. When one has more income to spend, he has the bigger opportunity to consume.
Consumption is rather attractive and tempting, at times. In a free world, there really is [...]

Adolf Merckle owns Phoenix Pharmahandel, a drugs wholesaler with annual sales of 21bn euros; Heidelberg Cement with annual sales of 11bn euros; Ratiopharm, a generic drugs firm with annual sales of 1.8bn euros; Kaessbohrer ski slope equipment firm with annual sales of 183m euros; and VEM engine makers with annual sales of 280m euros. The [...]

The world goes haywire, that’s for sure. Money is beneficial in its utilitarian role. It is also meant to be circulated so that an economy can thrive. Problems start when people keep their money, instead of bringing it back into circulation as it should be. But the rich wouldn’t have become so without stashing their [...]