According to the critics of capitalism, competition is a cruel process feeding unnecessary wants, that evolves into anti-competitive monopolies acting contrary to the “public interest.”
It is capitalism and the competitive market process that generates solutions to the knowledge problems of the society, including the “informational asymmetry” that naturally follows from any developed social system of division of labor.
Harmful monopolies are always created by government.
Those who speak about being on the “right side of history” have, knowingly or not, adopted a central element in Karl Marx’s analysis of capitalism
One of the most common phrases to be heard from those on “the left” is the assertion that someone or some public policy is or is not on “the right side of history.”
Those producing and trading goods and services for profit are not taking anything away from others—the producers and traders are creating material values that would not exist without their productivity.
The essential moral case for finance that Brook and Watkins present is that finance is good by the standard of human flourishing.
Thinking on the job, and in every other aspect of life, is a virtue necessary for human flourishing.
As Ayn Rand explains, the only proper role of government is to protect citizens against the initiation of physical force and fraud, through the police, the armed services, and the courts.
Government cannot create jobs because it does not produce anything.