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Source link: http://archive.mises.org/13092/aristotelian-self-sufficiency-through-the-middle-ages/

Aristotelian Self-Sufficiency through the Middle Ages

June 28, 2010 by

One of the Greek influences on the Hellenistic monarchies lay in envisaging national economic self-sufficiency as the basis of political strength. In fact, the evolution was from “self-sufficiency” to state-controlled trade, and finally to commercial hegemony. FULL ARTICLE by Michael Heilperin

{ 1 comment }

tungsten watches July 23, 2010 at 5:18 am

Let me go a step further and ask why are firms that gain significant market power on the free market considered bad? Even if a firm can dictate prices and earn “monopoly profits,” why is this a bad thing? Don’t increased profits mean increased investment, thus leading to higher levels of economic growth?

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