Justifying liberal capitalism

What makes liberal capitalism good?

Here is a flowchart I’ve developed for use in some upcoming talks. The chart diagrams the positive claims about liberal capitalism by its defenders — John Locke, Adam Smith, John Stuart Mill, Ludwig von Mises, Ayn Rand, Friedrich Hayek, Milton Friedman, and others. Click on the image for full size or check out this zoomable version at zoom.it.


Most advocates of liberal capitalism believe that most or all of the above claims are true. But they differ among themselves about which claims are most significant in morally justifying liberal capitalism. And that is the follow-up topic of my upcoming talks. More to come.

(Thanks to Chris Vaughan for the graphical design of the chart.)

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