Neoclassical economics focuses on the economic exchange process itself, driven by “sovereign” consumers and producers. There is a strong reliance on the market as self-equilibrating, and it is assumed that the collective action of self-interested economic agents still produces a socially beneficial outcome for all. But the focus on exchange and consumption neglects the sphere […]

Read More...

Introduction Marx’s speech on free trade was given before the Democratic Association of Brussels on January 9, 1848. It was published in French in Brussels, in early February 1848. The German translation appeared in the same year and was done by Joseph Weydemeyer – a friend of Marx and Engels. In compliance with a wish […]

Read More...

The following excerpt is Chapter 7 of Joseph Schumpeter’s book “Capitalism, Socialism, Democracy, originally written in 1942. It describes Capitalism as an evolutionary process, with continuous creative destruction of old structures. THE theories of monopolistic and oligopolistic competition and their popular variants may in two ways be made to serve the view that capitalist reality […]

Read More...

These are selected passages from an essay on the “Sociology of Imperialism” (1919) written by Joseph Schumpeter (1883-1950). For a short time, he was the Finance Minister of Austria in 1919, and later he became a Harvard professor of economics. He is famous for (1942). Schumpeter’s analysis of imperialism contradicts the analysis of Lenin. Imperialism is not […]

Read More...

This is a short summary from “”, originally written in 1998. Kevin Kelly is one of the co-founders of Wired Magazine, and has been on the forefront of the technology revolution and its consequences for society. The following passages from Kevin Kelly’s “New Rules for the New Economy” may be almost 20 years old, but […]

Read More...

The following description was written by Simon Webley, of the British-North American Research Association, who also worked on the text itself. INTRODUCTION A series of Interfaith consultations began in 1984 under the patronage of HRH Prince Philip, the Duke of Edinburgh, and HRH Crown Prince Hassan Bin Talal of Jordan. Followers of the three monotheistic faiths Christianity, […]

Read More...

I spent some time during the summer of 2015 traveling through Eastern Europe. It has changed dramatically since 1991, the year in which the Sowjet Union dissolved and the Warsaw Pact ended. Former Czechoslovakia became two countries, and former Yugoslavia fragmented in 1991/1992 into six states (Bosnia-Herzegovina, Serbia, Montenegro, Macedonia, Croatia, and Slovenia). This led to several wars in […]

Read More...