On Line Essays by
Globalization: The Long-Run Big Picture.
A demonstration of the gains
A critique of the
doctrine of pure and perfect competition.
Production Versus Consumption.
problem of economic life is the production of wealth, not the need for
wealth. Implications of this proposition for war,
government spending, population growth,
advertising, machinery, group conflict, and more.
Why Nazism Was Socialism and Why Socialism Is Totalitarian.
Contrary to myth, Nazi
Germany was a socialist state, not a capitalist one. And socialism,
understood as an economic system based on government ownership of the
means of production, positively requires a totalitarian dictatorship.
Classical Economics Versus the Exploitation Theory. Major ideas
of David Ricardo and John Stuart Mill can serve to overthrow the
theoretical framework of the Marxian exploitation theory.
The Value of
Final Products Counts Only Itself.
The value of final
products counts only itself and not the value of so-called intermediate
Is Interventionism? An
analysis of the nature, scope, cost, and consequences of interventionism,
including the outline of a program to overcome poverty by means of economic
Anatomy of Deflation. An
explanation of what deflation is, including why falling prices caused by
increased production are not deflation, what causes deflation, and the
monetary system needed to avoid it.
Stock Market, Profits, and Credit Expansion. The
plunge in the stock market is feeding a wave of anti-capitalist rhetoric.
This analysis, in
contrast, shows that capitalism
and the profit motive dramatically raise the standard of living and that
bust are not a necessary feature of capitalism but the result of
government-sponsored credit expansion. (See also Reisman's earlier piece,
from August 1999, "When Will the Bubble
Burst?," in which he predicted exactly the kind of stock-market
bust now going on.)
See also News
Commentaries by Reisman