To my leftist friends – if you have ever wondered, as I once did, what could possibly be the justification for return to capital, real interest rates – in short, capitalism – I think this essay from 1849 by Frédéric Bastiat is quite a good common-sense answer. The old-fashioned HTML formatting is a bit hard to read, so I recommend a readability extension like Mercury Reader if you’re going to read the whole thing.
The straight line
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We are what we pretend to be, so we must be careful about what we pretend to be.
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