A cloud looms over Adam Smith’s legacy. The 18th-century scholar is best known as an unalloyed extoller of the market and an apologist for self-interest, a reputation stemming from two centuries’ mischaracterisation of his thought. In the last 50-odd years, this interpretation has been given new credence by economists of the Chicago School (George Stigler famously [...]
Read more >>>Investors running to catch the stock market rally have brought the master’s words to life. Read more…
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Read more >>>Milton Friedman, the American economist, statistician and public intellectual, and a recipient of the Nobel Memorial Prize in Economics, being interviewed by Phil Donahue back in 1979 discussing capitalism.
I can assure everyone that after watching this short 2.5 minute clip, that if there were any doubts in your mind about capitalism, they will be gone [...]
The last two years, in which capitalism has suffered one of its periodic shocks, have given John Maynard Keynes a new lease of life. Read more…
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Ludwig von Mises explained how government-induced credit expansions led to imbalances in the economy.
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