The-Morality-of-Capitalism-PDF

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We are not saying, of course, that the modern economist, solearned in the grammar of equilibrium, so ignorant of the facts ofthe market, is unable or unready to cope with economic change;that would be absurd. We are saying that he is well-equippedonly to deal with types of change that happen to conform to afairly rigid pattern.95
Political and Economic Freedoms TogetherSpawn Humanity’s MiraclesBy Temba A. NolutshunguIn this essay, the South African economist Temba A. Nolutshungudraws from his country’s recent history to distinguish majority rule(which was won after decades of struggle against minority monopolizationof power) from freedom, and shows the liberating potentialof economic freedom.Temba A. Nolutshungu is a director of the Free Market Foundationin South Africa. He teaches at economic empowerment programsthroughout the country and is a frequent contributor to the SouthAfrican press. He was a commissioner of the Zimbabwe Papers, aset of policy proposals for Zimbabwean recovery after the disaster ofMugabe’s policies and submitted to Zimbabwean Prime MinisterMorgan Tsvangirai. Nolutshungu was prominent during his youthin South Africa’s Black Consciousness Movement.In July 1794, Maximilien Robespierre, revolutionary republican,radical democrat and driving force behind the Reign of Terrorin revolutionary France, during which some 40,000 French menand women died on the guillotine as “enemies of the nation,”was put to death by his political opponents. Moments before hisdeath, he addressed the mob that used to adulate him but nowwas baying for his blood, with the following words: “I gave youfreedom; now you want bread as well.” And with that ended theReign of Terror.The moral we can draw from this is that while there may bea link between political freedom and economic well-being, theyare not the same thing.Economic well-being is a consequence of freedom. In SouthAfrica, with a formally recorded unemployment rate of 25.2 percent(a figure which does not include those who have given up lookingfor work), the disjuncture between political freedom and economic96
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The Morality of CapitalismWhat Your
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ContentsIntroduction: The Morality
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Introduction: The Morality of Capit
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China, Morocco, the United States,
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in a friendly sense.” 9 The word
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Marx saw the “bourgeoisie” as i
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usinesses rising and falling more r
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and one an economist, and an interv
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Section IThe Virtues ofEntrepreneur
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is why I was mentioning the sophomo
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our society are motivated by purpos
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promote microfinance in poor countr
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ownership of wealth, was highly str
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in the world for a couple of hundre
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without a strong business sector th
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lightning rod and Watt’s steam en
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Competition and CooperationBy David
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advocates of “back to nature”
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that the associations within civil
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For-Profit Medicine and the Compass
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Profit and CompassionThat’s too s
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The Paradox of MoralityBy Mao Yushi
Page 50 and 51: after assessing the situation, sett
Page 52 and 53: efrigerators and color TVs, are onl
Page 54 and 55: epair trade are crowded out by the
Page 56 and 57: person, followed the principle of e
Page 58 and 59: if in return for A taking the bigge
Page 60 and 61: The Moral Logic of Equality and Ine
Page 62 and 63: equality in exchange is economicall
Page 64 and 65: eliminate or to establish inequalit
Page 66 and 67: earned by the poorest 10% of the po
Page 68 and 69: Adam Smith and the Myth of GreedBy
Page 70 and 71: them to lobby the state to create c
Page 72 and 73: strangers, but when we haggle for t
Page 74 and 75: Ayn Rand and Capitalism: The Moral
Page 76 and 77: the welfare state, which redistribu
Page 78 and 79: Welfarism: The Unchosen ObligationT
Page 80 and 81: Egalitarianism: “Fair” Distribu
Page 82 and 83: A worker is hired because of the an
Page 84 and 85: To live by reason we must accept in
Page 86 and 87: Economic outcomes in the market—t
Page 88: is a social asset is incompatible w
Page 92 and 93: The Market Economy and the Distribu
Page 94 and 95: no unfavorable, economic results. O
Page 96 and 97: owner, actual or potential, reflect
Page 98 and 99: losses prompted by the chance of, o
Page 102 and 103: well-being reflects a potentially c
Page 104: discrepancies. The difference was c
Page 108 and 109: Global Capitalism and JusticeBy Jun
Page 110 and 111: preferences, and infrastructure. It
Page 112 and 113: Human Betterment through Globalizat
Page 114 and 115: any particular sophistication. Afte
Page 116 and 117: These young people are returning be
Page 118 and 119: etterment through exchange and the
Page 120 and 121: of diverse cultures. In this manner
Page 122 and 123: primitive magical-religious communi
Page 124 and 125: to censure, repression, and margina
Page 126 and 127: That is why the best defense of our
Page 128 and 129: A Little Further Reading for Fun an
Page 130 and 131: Dr. Tom G. Palmer is executive vice
Page 132 and 133: 14 Karl Marx and Friedrich Engels,
Page 134 and 135: Index of Proper Names(Chinese names
Page 139 and 140: The Pierre F. and Enid Goodrich Fou
Page 141 and 142: Students For LibertyA Free Academy,
Page 143 and 144: Additional Resources for LibertyThe
Page 145: “We need to change the narrative
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