Actually, the California Gold Rush started, not in 1849, but in January 1848 when gold was found in Coloma, California. Though it is difficult to be precise, it is thought that gold worth many billions of dollars in current values was extracted, a great deal of money and a great contribution to the USA economy. For example, San Francisco grew from a few hundred residents before the discovery of gold to almost 40000 residents in a very short time. This was growth through exploitation of US natural resources (and miners) and not through exploitation of US ingenuity (though, no doubt, many miners were ingenious), which had a multiplier affect throughout the US economy, thus increasing federal government income.
Showing posts with label free enterprise. Show all posts
Showing posts with label free enterprise. Show all posts
2013-03-24
2011-10-16
The libertarian regulation of free enterprise
Free enterprise: An economic system of business governed by the laws of supply and demand with minimal government interference, regulation, or subsidy.
Enterprises range from, for example, Lehman Brothers to a soup kitchen to Occupy Wall Street. Some enterprises are highly structured and highly organized; most enterprises have some structure and some organization; other enterprises are little more than collections of individuals, having no structure and no organization. It is worth noting that realist anarchist enterprises have some structure and some organization even though there are those who believe that idealist anarchist enterprises have no structure and no organization.
Enterprises range from, for example, Lehman Brothers to a soup kitchen to Occupy Wall Street. Some enterprises are highly structured and highly organized; most enterprises have some structure and some organization; other enterprises are little more than collections of individuals, having no structure and no organization. It is worth noting that realist anarchist enterprises have some structure and some organization even though there are those who believe that idealist anarchist enterprises have no structure and no organization.
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