Cullen Roche of the Pragmatic Capitalism blog has a nice post defending capitalism. If I weren't a libertarian, I would say everyone should be forced to read Smith's The Wealth of Nations to understand the superior moral underpinnings of capitalism as compared to any other system yet seen. (Since I am a small-l libertarian then I must say that I encourage students to study Smith.)
But I digress ... check out Roche's post which is well worth the read.
Oh, and as an aside ... there has been a tendency in the last few decades for defenders of capitalism to refer to it as "free markets". I think these well-intentioned folks think capitalism is a dirty word and so need to hide behind another term. I say we should defend the term itself as Capitalism (Big-C) has proven itself to provide more freedom and prosperity to each and every man, woman, and child than any other system ever. Trumpet that from the rooftops Cullen!
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