Answering the Objections to Capitalism

November 3, 2009 at 3:40 pm Leave a comment

I always enjoy seeing competent economists answering the often-repeated, yet long-discredited objections to capitalism. Art Carden, adjunct fellow with the Independent Institute and professor of economics and business at Rhodes College has put together this wonderful article entitled “Common Objections to Capitalism”. Not surprisingly, he concludes that “Substituting elite power for voluntary exchange invites all sorts of epistemological problems and moral disasters. For these reasons, capitalism deserves to be defended.”

For those wishing to investigate further, I recommend the following articles:

“Anatomy of an Economic Ignoramus” by Thomas E. Woods, Jr.

“The Noneconomic Objections to Capitalism” by Ludwig von Mises

Also interesting is the video below, where a student gets Michael Moore to admit that America does not really have a free-market system.

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