Colonization was modeled after the previous Islamic conquest of the Middle East and the Roman Catholic conquest of Europe. When colonialism ended, it wasn’t because the colonialists had a change of heart. It was because they did not have the power to continue. Their armies were dead. Their coffers were empty. Their will was broken. But as they rebuilt their military...
A few months ago, I was participating in a live discussion where I could see a stream of user comments. One such comment was that people in India lead miserable lives. The implication was that Western thinking is better because the West is more prosperous. People today see poverty in India and don’t know about past prosperity. Christopher Columbus was searching for...
Many people realize at present that there are problems with capitalism, but opinion is divided on what should be done about it. This post explores the alternatives to capitalism and their problems. The reality is that there are no provably stable economic models today. Centuries of economic studies have failed to provide a theory or model of how economic policies must...
Free market economics is about competition between businesses, and it operates under the assumptions of a closed system in which wealth can be redistributed, but the total wealth must remain constant. Capitalism is the contrary idea that the economy is an open system in which wealth can be infused, in order to create a net growth for the economy. The wealth...
