Category: Economics
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The Political Economy of “Consumerism”
The Political Economy of “Consumerism” and “Materialism”: Vilifying Human Nature to Suppress Wages Consumerism and materialism are words that vilify natural human desires. Consumerism means excessive consumption — purchasing beyond what is “necessary.” Materialism means caring too much about physical possessions and worldly pleasures. Both terms treat fundamental human activities as moral failings to discipline…
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The Political Economy of AI
How Technological Innovation Transforms Capitalism When a company introduces new machine tool technology, it sets off a predictable chain reaction. The firm achieves either the same output with fewer workers, or greater output with the same workforce. Either way, unit costs fall. The company now produces goods more cheaply than its competitors while still selling…
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The Great Health Insurance Heist
The Great Health Insurance Heist: A Citizen’s Guide to the Scam You’re Already Paying For Politician: Thank you. My dear citizens, today is a historic day! We are launching “Aarogya Suraksha” – a scheme to provide free health insurance for all! No more worrying about medical bills. You can now walk into any empaneled private…