Mercantilism

Laissez-Nous Faire

Monday, December 1st, 2008

Laissez faire means literally “Let do,” but it translates into “Let us do as we please.”
Embellished history has it that the term laissez faire was coined in 1680, during a meeting between Jean-Baptiste Colbert, the French finance minister, and a group of businessmen. Colbert had asked these men how the government could best help the [...]

Bailout

Wednesday, October 8th, 2008

Mercantilism is the system of securing special economic favors from government.
Capitalism is the system of private ownership of the means of production and the primacy of the individual over the group.
Mercantilism is in every significant way the exact opposite of laissez-faire capitalism.
Most businessmen today are not capitalists — insofar as they seek, demand, and [...]