100 Entrepreneurs Who Changed The World

Photo by CIMMYT 10. The free market limits power In a competitive market, no actor has the power to set prices, and thus no actor has power over any other. The system runs itself, no one fights, and no one tells anyone else what to do. Unlike the communist utopia where an all-powerful, all-knowing, and…

Given the actions of the Federal Reserve, particularly over the last twenty years or so, we have become accustomed to the fixing of interest rates as normal. Indeed, there appear to be benefits for many from such policies, at least in the near term. After all, given mortgage rates as low as 2% to 3%,…

Photo by Al Jazeera English 10. President Robert Mugabe of Zimbabwe Although not exactly a historical leader, President of Zimbabwe Robert Mugabe is a relic from the failed past and one of the “best” examples of how to ruin a well functioning economy in quick and easy steps. After a bloody civil war, the black…

Photo by 401(K) 2013 10. Socialism provides security The temptation of socialism is constantly luring us with the offer: “give up a little of your freedom and I will give you a little more security.” As the experience of this century has demonstrated, the bargain is tempting but never pays off. We end up losing…

Government Spending- What the Left believes: Government spending stimulates economic growth. Government spending ending the Great Depression. The Truth is: Government spending expends capital, usually without any return in sight. The money government spends was taken from the private sector where it would be used to stimulate real economic activity. Every penny the government spends…

As a result of the defeat in World War I, Germany had to pay reparations in gold or foreign currency, in annual installments of 2 billion goldmarks plus 26 percent of the value of Germany’s exports.