Reprising this chart which integrates the major answers to the question: What makes liberal capitalism good? 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. For elaboration, see my book Liberalism Pro and […]
Justifying liberal capitalism — flowchart Read More »
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
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I was surprised by this from Lanny Ebenstein’s biography, Milton Friedman: “Neither historically nor in his time to the present has the political orientation of Chicago’s Department of Economics been mostly free market. In a 1991 article on Laughlin, the first head of economics at Chicago, Friedman writes that the department had always had ‘prominent
Chicago’s free-market reputation Read More »