Source: Adam Smith Institute
by Tim Worstall
“We hear enough of how appalling capitalism is in this modern world. We should, perhaps, pay more attention to the disasters that befall those in the absence of capitalism: ‘More than 100 people have died after an artisanal goldmine at a small village in western Central African Republic (CAR) caved in’ …. ‘Artisanal’ in mining terms means men with shovels and little else but a shovel and their labour. … this is non-capitalist mining. The safer way to mine is to perhaps run with an open pit. Or, if tunnelling, to shore up said tunnels. But both of these options require much more money to be spent before there is any revenue from output. They require capital that is. ” (08/21/26)
https://www.adamsmith.org/blog/another-tragedy-of-the-absence-of-capitalism