The Gilded Age: John D. Rockefeller’s Role within the Oil Industry

The Gilded Age saw the rise of productive giants who amassed immense wealth. These mislabeled “robber barons” became incredibly rich not through robbing anyone. They became wealthy by offering products and services of high quality at attractively low prices. Thusly, a big proportion of American consumers preferred to transact with them. During this period of … Continue reading The Gilded Age: John D. Rockefeller’s Role within the Oil Industry

On Freedom and Democracy

              Democracy is the most important progression in the modern world. Advancement in democracy in the world results from social pressures that are exerted the existing governance mechanisms where political ideas morph into intelligible and practical democracy models that would otherwise “blind and undirected” if they should they fail to be implemented (Christiano 77). … Continue reading On Freedom and Democracy

A brief history of the banking system

The banking system has a long history. The expansion of world trade which took place towards the end of the Middle Ages necessitated a professional organization which would regulate the transmission of payment from place to place and country to country. The banking system developed in conjunction with the goods trade. The cradle of our … Continue reading A brief history of the banking system

​Reason: the preserve of the few—the majority prefers nonsense

The economy is governed spiritually and intellectually by technical and organizational ideas and institutions. New techniques, new organizations, new combinations, are expressions of the spirit. They originate in the mind of a single individual, never in a multitude of individuals, never collectively. Even if an industrial enterprise is subject to the decisions of a collective … Continue reading ​Reason: the preserve of the few—the majority prefers nonsense