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.
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The missing guardrail in crisis politics: Discipline
Modern American governance has developed a troubling pattern. Economic shocks like the 21st century’s financial panics and pandemic are often met with vast expansions of…
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Happy birthday to the Wealth of Nations – and to CEI
Today is the 250th anniversary of the publication of perhaps the seminal work of economics, Adam Smith’s An Inquiry into the Nature and Causes of…
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George and Sam: A friendship forged in freedom and entrepreneurship
In August 1783, after General George Washington had secured victory in the Revolutionary War but was still awaiting negotiation of Great Britain’s surrender, he penned…
