Description
The financial crisis caused many genuinely to reconsider the desirability and feasibility of capitalism. In Why Capitalism?, renowned economist Allan Meltzer addresses what he feels are key issues that critics of capitalism routinely fail to adequately recognize . These include the power of incentives and capitalism's adaptability to varying morals, ideals, and cultures. Meltzer argues that while capitalism is not perfect, it is the best option for providing growth and personal freedom. Citing Kant, he stresses that most of the faults and flaws on which critics dwell are human faults and are not systemically inherent to capitalism. Other topics he addresses include the regulated welfare state and how it invites corruption, arbitrary decisions, and circumvention; and irresponsible deficit spending and the unsustainable, unfunded promises by politicians eager to please. Why Capitalism? is a short, powerful book that will raise the level of the current debate among politicians, scholars in the political sciences, and general readers interested in the political issues brought to light by the recent financial crisis, written by one of the strongest voices the public dialogue on the fundamental economic ideas on which the United States economy is based.
About the Author
Allan H. Meltzer is The Allan H. Meltzer University Professor of Political Economy at Carnegie Mellon University. He is the author of A History of the Federal Reserve, Vols. 1 and 2.
Reviews
the adamant clarity of the arguments, their simple, accessible presentation and the terse language show the authors life-long experience and commitment as a successful teacher and policy-maker. His book works brilliantly as an undergraduate introduction to the virtues of free-markets, and as a compact summary of a certain kind of wisdom for those social scientists who share its basic value premises. * Gerardo Serra, London School of Economics *
clear and concise ... In addition to public choice scholars, anyone interested in monetary policy should read this book, because it ties the monetary history of the United States over the last 100 years into a larger context of democratic failure and intervention. * Diana W. Thomas, Public Choice *
Book Information
ISBN 9780199859573
Author Allan H. Meltzer
Format Hardback
Page Count 168
Imprint Oxford University Press Inc
Publisher Oxford University Press Inc
Dimensions(mm) 142mm * 211mm * 20mm
About the Author
Allan H. Meltzer is The Allan H. Meltzer University Professor of Political Economy at Carnegie Mellon University. He is the author of A History of the Federal Reserve, Vols. 1 and 2.
Reviews
the adamant clarity of the arguments, their simple, accessible presentation and the terse language show the authors life-long experience and commitment as a successful teacher and policy-maker. His book works brilliantly as an undergraduate introduction to the virtues of free-markets, and as a compact summary of a certain kind of wisdom for those social scientists who share its basic value premises. * Gerardo Serra, London School of Economics *
clear and concise ... In addition to public choice scholars, anyone interested in monetary policy should read this book, because it ties the monetary history of the United States over the last 100 years into a larger context of democratic failure and intervention. * Diana W. Thomas, Public Choice *
Book Information
ISBN 9780199859573
Author Allan H. Meltzer
Format Hardback
Page Count 168
Imprint Oxford University Press Inc
Publisher Oxford University Press Inc
Dimensions(mm) 142mm * 211mm * 20mm
