How Real Capitalism Saved (and Can Save) America

I’ll be doing the Radio Free Market radio show tomorrow (Saturday) at 2 PM Eastern time, where we’ll be discussing my book, How Capitalism Saved America: The Untold History of Our Country, From the Pilgrims to the Present.  Because of the gross economic ignorance of the public (thanks to “public” schooling), hardly anyone understands what capitalism or free markets really are these days.  They are NOT a cozy, corrupt relationship between corporate plutocrats and government, as most people seem to believe.  In fact, that was exactly the system (“mercantilism”) that Adam Smith critiqued in his famous 1776 treatise, An Inquiry Into the Nature and Causes of the Wealth of Nations, one of the earliest scholarly explanations of the differences between a mercantilist and a free-market economy.

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6:16 am on August 27, 2010