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Capital de facto: An Inquire into the General Theory of Capitalism
Arman Calbay, author
Feeling like your salary isn’t enough? Wondering if a college education has lost its value? Sadly, that’s the reality today. But do economists offer any strategic solutions? They don't! It's the same old story: the rallying cry for modern socialists is "Tax the Rich," while conservatives cling to the traditional mantra of "Work Hard." So predictable, boring, and out of touch!
The last fresh idea in economics was Supply Side Economics, 40 years ago! Since then, nothing new. Today's economic debates are really just political theater, and a biased one at that. Conservatives predictably stand by Marginalism and the free market, while liberals treat Marx's Capital as their economic bible.
So now is the time to say: Marginalism and Marxism are flat economics (like the concepts of a flat Earth or the Sun revolving around it), and Arman Calbay proves it in his book. Moreover, he offers a better alternative to both theories! The book Capital de facto is the next-level theory for the 21st century.
Artificial Intelligence (AI) adds a crucial, perhaps final, component to capital, transforming machines from mindless pieces of metal and plastic into intelligent entities. Calbay's discovery of the general economic equation Y=pe^g delves into the essence of things, establishing relationships among fundamental economic categories.
The book, employing an objective method, dispels a common economic misconception—the labor sale under capitalism. Even anti-socialists now acknowledge this idea, but Calbay contradicts this thesis solely from the standpoint of pure economics, without relying on philosophy or abstract math.
The author proposes "Own Capital" as the slogan for the 21st century and beyond. By introducing the principle of relativity and sustained symmetry breaking into economic theory, the book offers a fresh understanding of production, property rights, and value theory. The practical implications include consistent patterns of economic growth, better business practices, fairer taxation, and pension reform.
Calbay's theory can be likened to the Theory of Relativity in economics. Like Einstein’s theory, it sparks new ideas and introduces a fundamentally new approach to economics. It provides a new theoretical foundation with practical solutions for everyday life and public policy, making it a compelling must-read.