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The economic system of capitalism has generated the most wealth and freedom of any system in human history. Yet, it is being demonized and maligned by power-hungry politicians and extremists seeking to impose a collectivist ideology. Those efforts are based on ignorance of basic economic concepts. That kind of ignorance is being deliberately encouraged and cultivated by many in the government who know that they can only get away with their schemes if people are unaware of economic reality. Thus, to defend capitalism and freedom, it is essential to build a strong foundation of knowledge and ensure we have an understanding of economic concepts. That’s what you’ll find here at Economic Concepts Explained.