Capitalism is denounced as “an anarchy of production,” a chaos ruled by “exploiters,” “robber barons,” and “profiteers,” who “coldly,” “calculatingly,” “heartlessly,” and “greedily” consume the efforts and destroy the lives of the broad masses of average, innocent people.
The development of all the institutional features of capitalism is well illustrated by the economic history of the United States.
Economic progress is the leading manifestation of yet another major institutional feature of capitalism: the harmony of the rational self-interests of all men, in which the success of each promotes the well-being of all.
The existence of freedom under laissez-faire capitalism requires the existence of government.
The greatest era of capitalist development—the last two centuries—has taken place under the ongoing cultural influence of the philosophy of the Enlightenment.
Economics belongs alongside mathematics, natural science, history, philosophy, and the humanities as an integral part of a liberal education.
What makes the science of economics necessary and important is the fact that while human life and well-being depend on the production of wealth, and the production of wealth depends on the division of labor, the division of labor does not exist or function automatically.
Video of George Reisman’s TedX talk on socialism.
At the present moment, we are witnessing a phenomenon that to many people appears bizarre and inexplicable: the phenomenon of wealthy capitalists supporting socialism/communism.
Nazi Germany was a socialist state, not a capitalist one and socialism, understood as an economic system based on government ownership of the means of production, positively requires a totalitarian dictatorship.
Let the advocates of capitalism proceed in the knowledge not only that socialism is dead, but also that what the world still needs to learn is why capitalism deserves to live.
What would be required to restore New York to its former prosperity and greatness would be the combination of the elimination of public welfare, the abolition of rent controls, and the privatization of the city’s transportation system.
The system of public education could be abolished over the course of a generation, in a way that need not impose financial hardship on the parents of any child alive at the time of the abolition’s commencement.
In the present-day world, a procapitalist foreign policy is indistinguishable from a pro-American foreign policy.
The establishment of gold as money is essential to the achievement of a capitalist society.
A possible way to start on the elimination of the income/inheritance tax right now would be to fight for the immediate adoption of a universal exemption of at least 51 percent of everyone’s income from federal, state, and local income taxation under all circumstances.
The savings of individuals would steadily replace taxes as the source of provision for old age.
An appropriate vehicle for the establishment of the freedom of production and trade, whether all at once or gradually, would be the establishment of one last regulatory-type agency: the Deregulation Agency.
The privatization of property is the most fundamental aspect of a procapitalist political program
If such a laissez-faire capitalist society is to be achieved, a political movement pursuing a long-range program will be necessary.
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