With joint-stock corporations, investors can place bets on the success of many different companies, without having to play a central management role in any one of them. This allows investors to diversify their financial holdings. It also allows them to capture profits on their investments, without having to get involved in the dirty, troublesome business of actually running a company.

With joint-stock corporations, investors can place bets on the success of many different companies, without having to play a central management role in any one of them. This allows investors to diversify their financial holdings. It also allows them to capture profits on their investments, without having to get involved in the dirty, troublesome business of actually running a company.

Capitalism, in contrast, has existed for fewer than 300 years. If the entire history of Homo sapiens was a 24-hour day, then capitalism has existed for two minutes.

Never trust an economist with your job. Learn about economics yourself. And make up your own mind about what might protect your job - and what might destroy it.

If you want poor people to work you restore their incentive by giving them less, such as by cutting social services. If you want rich people to work you restore their incentive by giving them more, such as by cutting taxes.

Growth can also involve producing services instead of goods. In particular, a major expansion of public and caring services (like child care, education, elder care, and other life-affirming programs) would generate huge increases in GDP and incomes, with virtually no impact on the environment.

Apart from their work and production, households perform other important economic functions. Most CONSUMPTION occurs within the household. ... In developed capitalist economies, private consumption spending accounts for half or more of GDP.