Economic theory of Aristotle

The economics of Aristotle, money and prices and some lessons for today Economics actually comes from a Greek word oikos, meaning home or home economics. Political economy thinking started as an extension of home economics on a larger scale. The Ancient Greeks loved to use metaphors of people’s concrete lives and extrapolate it to the …

Utilitarianism – Jeremy Bentham, John Stuart Mill – Utilitarian calculators

Utilitarians explains all human action The moral worth of a decision and action is values its usefulness in maximizing utility/minimizing negative utility and this is summed among all living thinking beings. Jeremy Bentham (was not just a character on Lost) and John Stuart Mill (IQ of about 190) championed economic philosophy called Utilitarianism. What amazes …

Capitalism vs mercantilism

Capitalism vs mercantilism – Which economic system is better? The aim of this post is to compare these two economic systems by looking at today’s world as well as some economic theory of the past. Mercantilism definition and criticism Though the encouragement of exportation, and the discouragement of importation, are the two great engines by …

Marx on Religion

It is well known that Karl Marx believed religion was an opium for the masses. God was an illusion as religion was nothing more than an instrument of the bourgeois. Marx again was wrong in his logic. Further, it puzzles me why some many people naively quote Marx and do not think about his irrational …

Was Karl Marx right?

Was Karl Marx right and relevant today? With capitalism in trouble and society becoming more stratified, many people are asking the question, was Karl Marx right? Maybe not in full but partly, did Marx’s economics make some sense?  People have dismissed Marx, however, why was he so wrong? There is a very clear answer. It …

Was Malthus right?

Was Thomas Malthus right about population growth and the ability to sustain this population? The answer is found in games. What? Yes computer games hold the answer. I want to first look at Mathus’ own words, not recycled words about him. This is important to understand exactly what he was trying to convey and why …