The Politically Incorrect Guide to Capitalism
- The Politically Incorrect Guide to Capitalism
"The Politically Incorrect Guide to Capitalism", published in 2007 and authored by Austrian school economist Robert P. Murphy, is the ninth book in the popular conservative series "The Politically Incorrect Guides".
Written as a result of a poll by P.I.G. readers [ [http://www.humanevents.com/article.php?id=16685 The Politically Incorrect Votes Are In] ] that stated a book on economics was one of the most essential addition to the burgeoning series, "The Politically Incorrect Guide to Capitalism" aims to refute common misconceptions it sees resulting from Keynesian economics about what capitalism actually is.
"The Politically Incorrect Guide to Capitalism" argues that all the politically correct criticisms of capitalism, amongst which are:
* it causes ecological destruction
* it causes vast income inequality, as well as racism
* it leads to an unpredicatable boom and bust cycle
to be incorrect. Rather, they result from government efforts to regulate the free market that have the effect of distorting laissez-faire supply and demand that would encourage the most rational allocation of resources possible, as well as their conservation for future generations. For example, with endangered species such as rhinos it is argued that if they were freely traded those who used their parts would have a stake in maintaining supply and conservation would improve (page 49). It is likewise argued that antitrust laws are unnecessary and that the "robber barons" actually benefited the US' poor much more than any government aid has ever done.
References
External links
* [http://www.humanevents.com/article.php?id=20689 Newest Politically Incorrect Guide sticks up for Capitalism]
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