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Shareholders not incented to defend capitalism no counter weight Intellectuals [they know best & dominate media], Bauer Vicious Circle of Poverty (more) Bauer Conclusions Vicious circle of poverty total nonsense (more), Schumpeter (more) Creative Destruction & Cycles Article Michael Cox on Joseph Schumpterer (more), Factors that reduce Incentives for Entrepreneurs to Innovate, Retarding Economic Growth (more) Employee groups Growing Hostile Groups [unions], "Gales (Waves) of Creative Destruction" [ossified assets freed by destruction of obsolete industries] (more) More Waves and Revolutions (more), Pipes (more) [expert on Soviet history] Outside Reading "Property and Freedom - The Inseparable Connection� [no freedom w/o private property], "Gales (Waves) of Creative Destruction" [ossified assets freed by destruction of obsolete industries] (more) Capitalism has a limited life Can Capitalism Survive? [predicts Socialism to rule] (more), Can Capitalism Survive? [predicts Socialism to rule] (more) Factors Factors that reduce Incentives for Entrepreneurs to Innovate, Retarding Economic Growth (more), Capitalism is based on: 1. Private Propery Rights (more) 2. Freedom to Borrow 3. Freedom to Choose 4. Freedom to Pursue One's Self Interest Patents US Constitution guarantees (more), Bauer Vicious Circle of Poverty (more) Collectivists Nerdc (?sp) "Vicious Circle of Poverty" (more), Bauer Vicious Circle of Poverty (more) Collectivists Gunnar Myrdal Rich countries exploit poor countries (more), Schumpeter (more) Creative Destruction & Cycles Theorized on the Development of Capitalism Capitalism is based on: 1. Private Propery Rights (more) 2. Freedom to Borrow 3. Freedom to Choose 4. Freedom to Pursue One's Self Interest, Schumpeter (more) Creative Destruction & Cycles Theorized on the Development of Capitalism Schumpterian Model [innovation the engine of growth] (more), Malthus (more) [population trends lead to disastrous results] "Limits to Growth" Donella Meadows 1972 Oversights of Neo-Malthusians (more) [excluded prices, assumed constant pop. growth, tech. innovation overlooked, Deming's Management [worker empowerment, TQM, JIT] (more) His legacy for mgt 14 Principles, Shughart et al. Public Sector (more) See for more Shughart et al. on Public & Political Sector (more), Factors that reduce Incentives for Entrepreneurs to Innovate, Retarding Economic Growth (more) Reelection Politicians heavily influenced by media, Economists & Scientists People Viscusi [cost per life saved by Gov't $M] (more), Economists & Scientists People John Maynard Keynes (more) [Demand-side Economics, tax & spend], Economists & Scientists People Friedman Public Sector (more), Economists & Scientists People Mises [consumer or technocrat is king] (more), Economists & Scientists People Stigler Public Sector [gov't shapes laws beneficial to them] (more), Economists & Scientists People Bacon (more) Father - Scientific Method, Economists & Scientists People Knight [Greater Risk requires Greater Rewards] (more), Economists & Scientists People Shughart et al. Public Sector (more), Economists & Scientists People Acs & Gerlowski on Rentseeking (more) [reallocating rents decrease total value by directing to unproductive uses], Economists & Scientists People Schumpeter (more) Creative Destruction & Cycles, Economists & Scientists People Santoriello & Block, Public Sector (more) [gov't intervention harms environment], Economists & Scientists People Lindbeck [Rent Controls bomb cities] (more), Economists & Scientists People Kitchin [quick diffusion = shorter technological cycles] (More), Economists & Scientists People Booth [monopoly through innovation eventually disappear] (more), Economists & Scientists People Anderson & Leal [Public Sector motivated by self-interest] (more), Economists & Scientists People Buchanan [beaucrats decisions guided by self-interest] (more), Economists & Scientists People Mintz on Rentseeking [consumers overpaying for sugar] (more), Economists & Scientists People Malthus (more) [population trends lead to disastrous results], Economists & Scientists People Pipes (more) [expert on Soviet history], Economists & Scientists People Ricardo Supply-side Economist, Economists & Scientists People Hazlitt Ignoring Longterm Costs (more), Economists & Scientists People Deming's Management [worker empowerment, TQM, JIT] (more), Economists & Scientists People de Geer 1930 Study on Mfgr Belt in USA, Economists & Scientists People Carnevale [moving away from Mass Production] (more), Economists & Scientists People Clark (more) [employment trend to tertiary sector], Economists & Scientists People Coase (more) Transaction Cost Theory, Economists & Scientists People Pigou (more) Collectivist, Economists & Scientists People Julian Simon (more) Anti-Malthusian, Economists & Scientists People Stossel Public Sector (more), Economists & Scientists People Smith [Invisible Hand - Capitalism], Economists & Scientists People Bauer Vicious Circle of Poverty (more), Economists & Scientists People Crichton (more) [Scientific Method & Media], Economists & Scientists People Laffer [Supply-side curves tax cuts] (more), Schumpeter (more) Creative Destruction & Cycles ???? Kondratiev [Long gestation periods & long Economic Waves] (more), Factors that reduce Incentives for Entrepreneurs to Innovate, Retarding Economic Growth (more) Intelligencia Intellectuals [they know best & dominate media], Malthus (more) [population trends lead to disastrous results] Lost wager to Julian Simon Ehrlich (more) [Mlthusian predicted global collapse], Politicians heavily influenced by media collaborators Intellectuals [they know best & dominate media], Julian Simon (more) Anti-Malthusian ???? Oversights of Neo-Malthusians (more) [excluded prices, assumed constant pop. growth, tech. innovation overlooked, Schumpeter (more) Creative Destruction & Cycles Pub. "Gales (Waves) of Creative Destruction" [ossified assets freed by destruction of obsolete industries] (more), Factors that reduce Incentives for Entrepreneurs to Innovate, Retarding Economic Growth (more) As long as dividend arrives Shareholders not incented to defend capitalism