Why Capitalism?
Allan Meltzer provides a resounding answer to the question, "Why Capitalism?" Only capitalism, he writes, maximizes both growth and individual freedom. Unlike socialism, capitalism is adaptive, not rigid—private ownership of the means of production flourishes wherever it takes root, regardless of culture. Vigorously argued and sweeping in scope, Why Capitalism reminds us of the fundamental vitality of the one economic system that has survived every challenge and risen to dominate the globe.
Praise for Why Capitalism
"A concise alternative to current economic policies for those who look with suspicion at the writings of economists and financial specialists. A lively, politically challenging contribution to a developing discussion on how to change international monetary arrangements."
— Kirkus Reviews
"Why Capitalism is a thoughtful, historically-based analysis of the roles of government and free markets in a democratic society. Meltzer has thought deeply about the workings of both and has a good sense of which functions each best can be trusted to serve. His analysis of financial regulation in general and of the Dodd-Frank bill, in particular, is the best I have seen."
— Robert Lucas, University of Chicago, 1995 Nobel laureate in Economics