Capitalism isn't unique to any particular group. People with the drive to save and invest have always existed; but the idea that this instinct was immoral had to be overcome for markets to flourish.
Devine responds to the critics who claim that capitalism is increasingly under attack because it promotes a collapse of moral values. Devine is fully capable of handling these accusations and has written a book worth reading.
Capitalism isn't just better because it makes us materially better off. Capitalism also helps us forge a more humane and civil society.
Suddenly the champions of stakeholder theory, like the predictably despicable Washington Post, find themselves singing a new tune about vulture capitalists, deciding that hedge fund short sellers are now the good guys.
Suddenly the champions of stakeholder theory, like the predictably despicable Washington Post, find themselves singing a new tune about vulture capitalists, deciding that hedge fund short sellers are now the good guys.
Even granting the goals of “meeting people’s needs” and “selflessness” cherished by socialists, a property-based market economy is far superior at meeting those goals in modern civilization compared to a top-down, centrally controlled socialist system.
Market progress through entrepreneurship and innovation means increased production. In a world of scarcity, that benefits all of us in society. That makes it a positive-sum game.
Yes, capitalism is more efficient than socialism, but to build a compelling argument for free market capitalism, defenders of liberty must also articulate that it is a superior moral system.
Millennial Sam Jacobs went off to college a wealthy but normal young man and came back a socialist. Suddenly his family’s “extreme, plutocratic wealth” became too much of a burden for him.
