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Crisis Journal: Capitalism Assumed Guilty

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In this “journal” I do not necessarily focus on the current economic crisis. I do not aim to portray the statist conditions that maintain economic cycles, with all the theoretical details that explain the causes of the crisis. There have already been written and there will be written such stories, more or less technical, in the anatomy of the crisis. Here and now I am preoccupied to draw

The Anatomy of the Competitive Advantage: With Mask, Without Mask!

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In the economic literature, the logic of competitive advantage still represents the topic of numerous controversies. The most frequent judgements in the area of international trade invoke “the competitive advantages” of one industry or another in order to justify the economic positions of these industries, but especially in order to justify the national policies used to support those

Why “the Opportunity Cost” Can Never Be “Zero”…

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I am writing these lines out of the need to correct certain errors that orthodox economics textbooks fuel, sometimes, with brave nonchalance. Such an error emerges even from the first “economics lesson”, namely the lesson on “the economic way of thinking”, which seeks to explain human action in the counterfactual terms of “the opportunity costs”. Put together, such

Cosmin Marinescu