“Can Capitalism Survive?” Ch. 5 – Closed Season by Joseph Schumpeter (1942) Economics is a science of observation & interpretation Implies in our questions, room for difference of opinion can be narrowed but not reduced to zero Leads to new problems – doesn’t happen in experimental science We asked forContinue Reading

Spilling the beans…“Can Capitalism Survive?” Ch. 4 – Monopolistic Tendencies by Joseph Schumpeter (1942) Let’s be more specific about what’s been said: 1 – New technology is a threat to industries who try to conserve positions through restriction of output Creative destruction disrupts the slow, balanced or even stationary stateContinue Reading

“Can Capitalism Survive?” Ch. 3 – Process of Creative Destruction by Joseph Schumpeter (1942) Monopolistic & Oligarchic Competition can be used in 2 ways to be made to show Capitalism isn’t the way for maximum production performance Some might say it’s always been that way but we’re only just nowContinue Reading

“Can Capitalism Survive?” Ch. 2 – Plausible Capitalism by Joseph Schumpeter (1942) We’ve projected average increase of total available production forward from 1928 o show the significance of past development & that it wouldn’t be shocking to see But there’s no justification for that projection/extrapolation especially so far into theContinue Reading

“Can Capitalism Survive?” Ch. 1 – The Rate of Increase of Total Output by Joseph Schumpeter (1942) Capitalism already has 2 strikes against it with a lot of people with respect to economics & cultural results In fact, it’s a breach of etiquette not to condemn it You have toContinue Reading

Federalist No. 71 – Alexander Hamilton The President’s term should be four years. Some think that it’s too long and he could amass power. In this span, he has time to counteract temporary passions or influences of factions in the public and their representatives. His duty is to protect theContinue Reading

Federalist No. 70 – Alexander Hamilton A single executive is necessary for accountability, “executive energy” and defense against legislative encroachment on his power. One is enough to ensure secrecy, fewer fights and allowing decisions to be made quickly. Congress will have time to deliberate and listen to open discussion toContinue Reading

Federalist No. 69 – Alexander Hamilton The President won’t be an elected monarch. He can only negate acts, not pass them. He can have a veto overturned but a king can’t. Both the President and King serve as commander and chief. A King can raise and maintain an army butContinue Reading

Federalist No. 68 – Alexander Hamilton The Electoral College allows the sense of the people playing a role in selecting the President without mayhem and disorder. A direct election would bring us chaos and instability. Electors in the Electoral College would be unbiased since they don’t hold office. This ensuresContinue Reading

Federalist No. 51 – James Madison Explains how the structure of government has an effect on liberty. Each branch should be mostly independent – no branch should have too much power in selecting members of the other branches. Easy to make executive and legislative branches elected positions but it’s difficult forContinue Reading

Federalist No. 47 – James Madison Detractors say that the Constitution doesn’t divide the powers up enough so that they’re not wholly independent and that they are unevenly distributed. Important to focus on separation of powers. If too much power is given to one branch, it’s tyrannical but how muchContinue Reading

Federalist No. 31 – Alexander Hamilton The federal government needs to tax because it needs money to perform its functions Needs enough power to fulfill its responsibilities Can’t predict future problems of the government and shouldn’t be constrained Needs money to do those things and it needs to be ableContinue Reading

Federalist No. 15 – Alexander Hamilton The Confederation didn’t preserve peace and happiness. And will probably lead to anarchy, riots, large debts, territories near foreign powers, no military, no money, no commerce, no foreign respect and falling prospects. The Confederation needed a stronger central government but couldn’t do so withoutContinue Reading

Federalist No. 10 – James Madison The best argument for the Constitution is that it controls damage and chaos of factions – people have banded together to promote and protect special economic and political interests. These often work against the public’s interest. The Articles of Confederation and strong, independent mindedContinue Reading

Federalist No. 9 – Alexander Hamilton A strong union will act as a defense barrier against invasion and domestic problems. This will come from a system of checks and balances between the different branches of government. Compare the branches of government to planets orbiting the sun – in a singleContinue Reading

Federalist No. 8 – Alexander Hamilton The problem with in-fighting is bigger than foreign attack The US has no civil defense set up – no castles, no city walls, no militia, etc. Large states could overrun their smaller neighbors If disunited, standing armies would be necessary and they are costlyContinue Reading

Federalist No. 7 – Alexander Hamilton If states aren’t united, they will be more likely to go to war with other countries including neighbors Border disputes, commercial competition, public debt may lead states to fight each other. This will make us look weak and disunited and either be tempted byContinue Reading

Federalist No. 6 – Alexander Hamilton Commercial clashes have caused nations to be unfriendly with other nations Wars happen all the time based on this, religion and border disputes The British have almost always been at war for these reasons Popular wars often based on commerce between 2 parties areContinue Reading

Federalist No. 5 – John Jay If our country descended into 3 or 4 countries, there’d be many border disputes and many other problems. Large differences would occur and might lead to a war. 3 or 4 nations would have different commercial interests and different alliances with foreign countries andContinue Reading

Federalist No. 4 – John Jay One government uniting the states will deter France, Spain and Britain from interfering in our lives. The US is growing its economy and that may spark tensions between the US and other economic powers. A single government can defend better than 13 individual states.Continue Reading