George Reisman's blog

How the 1% Provides the Standard of Living of the 99%

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Submitted by George Reisman on Wed, 2015-08-05 21:30

The following is a summary of my latest Kindle-book essay “How the 1% Provides the Standard of Living of the 99%.” The essay is available to the public for 99¢ at http://www.amazon.com/dp/B00VW8RJ26

The overwhelming majority of our contemporaries, ranging from the illiterate to the highly educated, are utterly ignorant of the role of privately owned means of production—capital—in the economic system. As they see matters, wealth in the form of means of production and wealth in the form of consumers’ goods are essentially indistinguishable. For all practical purposes, they have no awareness of the existence of capital and of its importance.


Capitalist Planning and Socialist Chaos

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Submitted by George Reisman on Sun, 2015-06-21 22:45

This essay, “Capitalist Planning and Socialist Chaos,” shows that capitalism has all-pervasive but unrecognized economic planning. The separate, individual plans of all of its hundreds of millions, indeed, billions of individual participants, are harmonized, coordinated, and integrated by the price system and profit motive. Socialism, in contrast, is a chaotic “anarchy of production,” made that way by the stupendously ignorant and arrogant attempt to monopolize economic planning by a handful of government officials who prohibit economic planning by everyone else.


Production Versus Consumption

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Submitted by George Reisman on Wed, 2015-05-20 07:41

“Production Versus Consumption” shows why the production of wealth, not the artificial creation of the need and desire to consume, is the fundamental problem of economic life.


Freedom of Opportunity, not Equality of Opportunity

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Submitted by George Reisman on Sun, 2015-04-12 03:21

FREEDOM OF OPPORTUNITY NOT EQUALITY OF OPPORTUNITY

This essay shows that the goal of equality of opportunity is both absurd and vicious. Achieving it would require that children all be raised in the same environment and have the same genetic inheritance. In contrast, the essay shows that what we should actually strive for is the freedom of opportunity.


Fundamental Insights into the Benevolent Nature of Capitalism

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Submitted by George Reisman on Thu, 2015-03-05 01:51

My essay “Fundamental Insights into the Benevolent Nature of Capitalism” is now available to the general public for 99¢ as a Kindle Book on Amazon.com.

Here are the leading points of my essay:


The Toxicity of Environmentalism

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Submitted by George Reisman on Fri, 2015-01-23 04:37

“The Toxicity of Environmentalism” is a major critique of environmentalism that was featured as the concluding, summary essay in Jay Lehr, ed., Rational Readings on Environmental Concerns. It is now available to the general public for 99¢ as a Kindle Book on Amazon.com.


Warren Buffett, Class Warfare, and the Exploitation Theory

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Submitted by George Reisman on Tue, 2014-12-09 00:42

WARREN BUFFETT, CLASS WARFARE, AND THE EXPLOITATION THEORY

GEORGE REISMAN

The first part of this very short book is a critique of the views expressed by the multi-billionaire Warren Buffett on the subjects of class warfare, taxation, and “The Giving Pledge.” The second part, which is a section of my book Capitalism: A Treatise on Economics, goes deeper and seeks to overturn the foundations of Buffett’s and most other people’s ideas concerning the relationship between profits and wages.


Now Available on Kindle: "Education and the Racist Road to Barbarism"

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Submitted by George Reisman on Tue, 2014-11-11 23:31

“Education and the Racist Road to Barbarism,” which is now available for 99¢ as a Kindle Book on Amazon.com, is a demonstration of the objective superiority of Western Civilization and slap in the face of cultural relativism and political correctness.


Uh, Duh ... and the Shocking Truth about Obamacare

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Submitted by George Reisman on Sun, 2013-11-03 04:50

Uh, Duh ... and the Shocking Truth about ObamaCare

Uh: Headline in The New York Times of Thursday, October 31, 2013: “Voters’ Anger Over Shutdown Is Inspiring Democrats to Run.”

Duh: Headline in The New York Times of Friday, November 1, 2013: “Troubled Start for Health Law Has Democrats Feeling Anxious.”

Recent Comments:
The most convincing argument — by Kyle Jacob Biodrowski on Wed, 2013-11-06 16:34

Gun Control: Controlling the Government’s Guns

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Submitted by George Reisman on Mon, 2012-08-27 21:27

http://georgereismansblog.blog...

Gun Control: Controlling the Government’s Guns

The recent mass shootings in Aurora, Colorado and then in Oak Creek Wisconsin have led to renewed demands for “gun control” aimed ultimately at depriving the individual citizen of his Constitutional right to keep and bear arms. It is believed that if the individual were deprived of this right, such shootings would not take place, because of the sheer lack of available weaponry.

Recent Comments:
So this is non-wooley thinking? — by Frediano on Sun, 2013-03-31 04:04
Canada..very "good gun laws" — by Jules Troy on Sun, 2013-02-10 14:09
President B.O. baits the trap — by gregster on Sun, 2013-02-10 03:44

New Kindle Book by Reisman

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Submitted by George Reisman on Thu, 2012-08-09 23:04

New Kindle Book by Reisman

http://georgereismansblog.blog...

I've just published a new book. It's as short as Capitalism is long, i.e., 59 pages. Its title is Warren Buffett, Class Warfare, and the Exploitation Theory. It appears in Kindle format on Amazon.com and sells for 99¢.


Open Letter to Warren Buffett

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Submitted by George Reisman on Thu, 2012-07-26 02:08

http://georgereismansblog.blog...

Mr. Warren Buffett
3555 Farnam Street
Suite 1440
Omaha, NE 68131

Mr. Buffett:

You have been quoted time and again, without any denial on your part that I am aware of, as having said, “There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.”

Recent Comments:
Craig, Mark... — by Ross Elliot on Sat, 2012-07-28 07:28
It is productive, Ross — by Craig Ceely on Thu, 2012-07-26 13:32
Ross — by Mark Hubbard on Thu, 2012-07-26 11:35

Free Speech and Occupy Wall Street

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Submitted by George Reisman on Fri, 2011-12-16 05:22

Free Speech and Occupy Wall Street

The Occupy Wall Street protesters were allowed to remain in New York’s Zucotti Park for two months, against the will of its private owners. They were clearly trespassers, indeed, much worse than garden variety trespassers, who almost always quickly leave. They were there prepared to stay indefinitely. In effect, they were literally attempting to steal the park from its lawful owners.

Recent Comments:
@ seymourblogger — by 0 on Wed, 2012-01-04 05:12
I know because your comment got me wondering darren — by seymourblogger on Tue, 2012-01-03 20:57
I don't know how to explain — by 0 on Tue, 2012-01-03 17:03

How a Highly Productive and Provident 1% Provides the Standard of Living of a Largely Ignorant and Ungrateful 99%

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Submitted by George Reisman on Thu, 2011-10-20 05:44

How a Highly Productive and Provident One Percent Provides the Standard of Living of a Largely Ignorant and Ungrateful Ninety-Nine Percent

The protesters in the Occupy Wall Street Movement and its numerous clones elsewhere in the country and around the world chant that one percent of the population owns all the wealth and lives at the expense of the remaining ninety-nine percent.

Recent Comments:
Ah — by Jmaurone on Fri, 2011-12-02 01:38
My context was Rand and Branden - the affair — by seymourblogger on Fri, 2011-12-02 00:00
Zizek defending Rand — by Jmaurone on Thu, 2011-12-01 22:34

How to Eliminate Social Security and Medicare

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Submitted by George Reisman on Thu, 2011-04-07 00:15

How to Eliminate Social Security and Medicare*

http://georgereismansblog.blog...

Expenditures under the Social Security and Medicare programs account for approximately one-third of total federal government spending.

Recent Comments:
Sign me up — by Frediano on Thu, 2011-04-07 12:48
Freedom Now — by Kyrel Zantonavitch on Thu, 2011-04-07 03:28

Where Profit Comes From

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Submitted by George Reisman on Thu, 2011-02-03 09:52

WHERE PROFIT COMES FROM

Labor unions like to argue that the payment of higher wages is to the self-interest of employers because the wage earners will use their higher wages to make additional purchases from business firms, thereby increasing the sales revenues and profits of business firms. However, wrong and foolish it may be, this is an argument worth analyzing in some detail, because it can provide a gateway to a discussion of the actual sources of profit in the economic system.

Recent Comments:
How can an argument... — by Frediano on Fri, 2011-02-04 14:12

Raising Taxes Is Not Reducing Government Spending

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Submitted by George Reisman on Tue, 2010-11-23 05:26

Raising Taxes Is Not Reducing Government Spending

Today’s [November 21] New York Times carries an article titled “The Blur Between Spending and Taxes.” The author is Harvard Professor N. Gregory Mankiw.*

Recent Comments:
I didn't rob a bank yesterday of $100,000. — by Frediano on Sun, 2010-11-28 09:39
Glad to see you posting on — by Jason Quintana on Wed, 2010-11-24 03:04
Another timely article. I've — by Mark Hubbard on Tue, 2010-11-23 06:00

Natural Resources and the Environment

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Submitted by George Reisman on Sun, 2010-10-31 03:30

Natural Resources and the Environment

http://georgereismansblog.blog...

There is a fundamental fact about the world that has profound implications for the supply of natural resources and for the relationship between production and economic activity on the one side and man’s environment on the other.

Recent Comments:
Excerpt from my book HUMAN IS MUNDANE — by F L Light on Mon, 2010-11-08 18:36
The perfect essay. And great — by Mark Hubbard on Sun, 2010-10-31 06:00

Central Problem: Central Bank

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Submitted by George Reisman on Wed, 2009-12-30 05:36
Recent Comments:
True 'dat. — by Frediano on Mon, 2010-01-18 15:23
Nothing — by atlascott on Wed, 2010-01-13 23:22
Ross — by Frediano on Fri, 2010-01-08 22:16

A Pro-Free-Market Program for Economic Recovery

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Submitted by George Reisman on Tue, 2009-12-01 04:27

The following is a speech delivered by George Reisman at the Ludwig von Mises Institute's Mises Circle in Newport Beach, California on November 14, 2009.

As you all know, we are in a severe economic downturn. The official unemployment rate now exceeds 10 percent and according to many observers is actually substantially higher.

Recent Comments:
Excellent manifesto... — by Ross Elliot on Tue, 2009-12-01 07:59

Maoist in the White House

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Submitted by George Reisman on Sat, 2009-10-24 05:00

Anita Dunn, is described by the online encyclopedia Wikipedia as “one of the major decision makers of the Obama campaign” and as one of Obama’s “four top advisers (along with David Axelrod, David Plouffe, and Robert Gibbs).”

Recent Comments:
Gregster ... — by Lindsay Perigo on Wed, 2009-10-28 00:51
Quiet Virtue — by Kyrel Zantonavitch on Tue, 2009-10-27 15:17
I haven't noticed any end-dropping... — by Marcus on Tue, 2009-10-27 08:19

Replies to Readers of My Article on the Real Right to Medical Care

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Submitted by George Reisman on Wed, 2009-08-12 02:35

Replies to Readers of My Article on the Real Right to Medical Care

From a reader in Cambridge, ON, Canada:
RE:The Real Right To Medical Care....

Recent Comments:
That — by 0 on Sun, 2009-10-25 22:44
What??? — by Kasper on Sat, 2009-10-24 22:41
The original sin of socialized medicine — by 0 on Sat, 2009-10-24 09:18

Credit Expansion, Crisis, and the Myth of the Saving Glut—Summary and Conclusion

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Submitted by George Reisman on Mon, 2009-07-06 01:09

The real estate bubble, like the stock market bubble before it, was caused by credit expansion. The credit expansion was instigated and sustained by the Federal Reserve System, which could have aborted it at any time but chose not to. As a result, the Federal Reserve System and those in charge of it at during the real estate bubble bear responsibility for major harm to tens of millions of Americans.

Recent Comments:
Found it — by Frediano on Mon, 2009-07-13 13:21
Hi Frediano... — by Robert on Mon, 2009-07-13 03:21
Sligthly different question — by Frediano on Thu, 2009-07-09 22:02

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RIP General Motors; Google Relents

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Submitted by George Reisman on Wed, 2009-06-17 23:14

General Motors was once not only the world’s greatest and most prosperous automobile company but the world’s greatest and most prosperous manufacturing company, indeed, the world’s greatest and most prosperous company of any kind.

Recent Comments:
Whatever ... — by Lindsay Perigo on Sun, 2009-06-21 01:59
'I suppose you agree with — by PhilipD on Sat, 2009-06-20 13:27
Philip — by Lindsay Perigo on Sat, 2009-06-20 11:14

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Letter to Krugman

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Submitted by George Reisman on Thu, 2009-05-07 22:03

Dear Prof. Krugman:

In your NY Times column of today you write, “But if everyone takes a pay cut, nobody gains a competitive advantage. So there’s no benefit to the economy from lower wages. Meanwhile, the fall in wages can worsen the economy’s problems on other fronts.”

Recent Comments:
I agree - he's a fuckwit — by gregster on Thu, 2009-06-18 00:12
What I find funny about — by kaiwai on Sat, 2009-05-23 17:21
On Krugman — by F L Light on Mon, 2009-05-18 03:45

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Injustice as Routine; Fallout from Declaring CO2 a Pollutant; "Green" Jobs; Threat to My Blog

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Submitted by George Reisman on Mon, 2009-05-04 10:42

Injustice as Routine

I want to take note here of two outrageous injustices that have occurred within the last few days.

Recent Comments:
I got the same — by atlascott on Mon, 2009-05-11 14:39
In fact, now that I think — by Duncan Bayne on Thu, 2009-05-07 22:56
How can you possibly improve — by Duncan Bayne on Thu, 2009-05-07 22:52

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Standing Keynesianism on Its Head

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Submitted by George Reisman on Sun, 2009-04-19 12:40

Standing Keynesianism on Its Head: as Employment Increases in Response to a Fall in Wage Rates, the Rate of Profit Rises, Not Falls

This is the third in a series of articles that seeks to provide the intelligent layman with sufficient knowledge of sound economic theory to enable him to understand what must be done to overcome the present financial crisis and return to the path of economic progress and prosperity.

Recent Comments:
I read this just after — by Aaron on Sun, 2009-04-19 15:32

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The Fundamental Obstacles to Economic Recovery: Marxism and Keynesianism

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Submitted by George Reisman on Mon, 2009-03-30 03:58

In a previous article, I explained how falling prices, far from being deflation, are actually the antidote to deflation. They are the antidote, I explained, because they enable the reduced amount of spending that deflation entails to buy as much as did the previously larger amount of spending that took place in the economic system prior to the deflation.


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“Change” Under Obama: From Dumb to Dumber and From Bad to Worse

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Submitted by George Reisman on Tue, 2009-03-10 05:03

A recent article in The New York Times quotes President Obama as saying, “I don’t buy the argument that providing workers with collective-bargaining rights somehow weakens the economy or worsens the business environment. If you’ve got workers who have decent pay and benefits, they’re also customers for business.” (March 2, 2009, p. B3.)

Recent Comments:
Obummer wouldn't have done worse had he — by HWH on Mon, 2009-03-23 07:59
Obama kissing Iran's ass now! — by Marcus on Fri, 2009-03-20 08:49
He is not as well-spoken as he seems — by F L Light on Fri, 2009-03-20 04:02

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ECONOMIC RECOVERY REQUIRES CAPITAL ACCUMULATION NOT GOVERNMENT “STIMULUS PACKAGES”

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Submitted by George Reisman on Mon, 2009-02-23 03:47

This two-part article is the second in a series of articles that seeks to provide the intelligent layman with sufficient knowledge of sound economic theory to enable him to understand what must be done to overcome the present financial crisis and return to the path of economic progress and prosperity.


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