Capitalism is an inherently moral system of political economy, based on its voluntary nature and its reliance on virtuous human traits. The entity that embodies capitalism in the market – the firm or corporation – hones and enhances these virtues through a vast array of mutually beneficial exchanges, which
in turn enable further types of interactions beyond the realm of business. The genius of the market is that it enables a wide array of individuals, groupings, and associations to organize spontaneously to advance their various interests in a cooperative fashion that yields win-win arrangements.
in turn enable further types of interactions beyond the realm of business. The genius of the market is that it enables a wide array of individuals, groupings, and associations to organize spontaneously to advance their various interests in a cooperative fashion that yields win-win arrangements.
Featured Posts
Blog
Rare earths and China: Choose deregulation, not price controls
Treasury Secretary Scott Bessent threatened to implement price controls on unspecified goods if China continues to restrict rare earth mineral exports. Over at the…
Blog
A Nobel for human progress
This year’s economics Nobel Prize went to three students of the two most important questions in economics: Why have living standards in rich countries improved…
Blog
Free the Economy podcast: Reforming Social Security with Romina Boccia
In this week’s episode we cover a new study on pharmaceutical tariffs, whether to expect a new Great Depression (via Phil…
