Capital de facto: Inquiring into the General Theory of Capitalism

＂Tax the Rich＂ has become the slogan for today’s socialists, while conservatives respond to them with the old-fashioned words ＂Work hard.＂ The problem is that both slogans became outdated in the 20th century. The book Capital de facto takes an objectivist approach that outlines the contours of economic theory for the new century.

The general equation of economics Y=pe g, Arman Calbay has discovered, allows to get to the very essence of things and establishes relationships among the basic categories of economics.

The flat economics, under which the author combines both Marxism and marginalism, is naturally fading into the past just as the concepts of a flat Earth and geocentrism once did. The capitalism guru recommends ＂Own capital＂ as a slogan for the 21st century and beyond because people who rely solely on their own hands are already losing.

Not subjective, but the objective method of the book has helped to expose the most common economic misconception-the idea of the sale of labor under capitalism. Now even anti-socialists believe this, but the book proves the opposite thesis from the point of view of pure economics without involving general philosophical reasoning and abstract mathematical equations.

The theory in the book can be called similar to the Theory of Relativity (not the same though), but in economics. Like Einstein’s theory 100 years ago, Calbay’s theory launches a series of ideas and lays down a fundamentally new approach to economics. This is a new ground in theory that has practical solutions for everyday life and public policy as well and is a must-read.

The book introduces the principle of relativity and the mechanism of sustained symmetry breaking into economic theory, which gives a new understanding of the nature of production, property rights, and the theory of value. Promising practical implications include consistent patterns of economic growth, business practices, taxation, and pension reform.