Any social system must coordinate production and cooperation, and must also implement a system of distribution that participants perceive as sustainable, which often means morally fair. As Nobelist Elinor Ostrom demonstrated, there are many and widely varied social...
Michael Munger
Michael Munger is Professor of Economics at Duke University and Senior Fellow of the American Institute for Economic Research. His degrees are from Davidson College, Washingon University in St. Louis, and Washington University.
The Three Economic Elements About Capitalism
Those three elements are (a) division of labor; (b) impersonal exchange based on prices; and (3) economies of scale based on knowledge.
Roads Are Not Public Goods
Some creative rethinking can put us on the road to a better tomorrow.
How Capitalism Saved Sweden From The Evils of Socialism
Fortunately for its citizens, but unfortunately for those who think Sweden is still socialist, the Swedish government, more or less by universal consensus, turned sharply back toward capitalism beginning in about 1995.
Voice of Capitalism
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