Capitalism Conquers Greed

There is one silly argument being made among these reviews that conservatism and capitalism are unrelated. Actually, DiLorenzo, a superb colleague of mine, is more of a libertarian and true free-market thinker than a Tory conservative of the George Will mode. Understand this, and you will have a better appreciation for DiLorenzo’s approach to capitalism and its cleansing powers.

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People and markets proposer because we act in our own self-interest. Adam Smith was right and some label him ‘liberal’. ‘Liberal’ means something quite different outside the United States. Those who equate Oliver Stone’s “greed is good” mantra for capitalism are missing the point. “Greed” is “reprehensible acquisitiveness” and the beauty of capitalism is that the market speaks louder than government dictates or “greedy capitalists”. When the government says, “I’m here to help you,” it’s time to hold onto your wallets. With capitalism, it’s your choice. Greed doesn’t work; markets do. How Capitalism Saved A... Dilorenzo, Thomas J. Best Price: $2.18 Buy New $7.37 (as of 12:45 UTC - Details)

DiLorenzo writes with a clear, accessible style. While he is an accomplished researcher and academic, he discovers and disseminates knowledge for a much larger public than other academics. And he is brave enough to take on well-entrenched conventional wisdom, be it the nanny state or worshipful devotees of Abraham Lincoln.

We have a problem with unchallenged soft-headed, bleeding heart, liberal thought on many college campuses. DiLorenzo is part of the solution to the excessive political correctness rampant on many college campuses. Read this and open your eyes and mind. This is a nice companion piece to David Landes’ “The wealth and poverty of nations: Why some nations are so rich and others so poor.” And it fits with the recent studies of the differences between English and French law, and the impact of their respective legal systems on economic success.

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