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Can Capitalism Survive?
This book is published by Liberty Fund, Inc., a foundation established to encourage study of the ideal of a society of free and responsible individuals.
The cuneiform inscription that serves as our logo and as a design element in Liberty Fund books is the earliest-known written appearance of the word “freedom” (amagi), or “liberty.” It is taken from a clay document written about 2300 B.C. in the Sumerian city-state of Lagash.
© 1979 by Liberty Fund, Inc.
This eBook edition published in 2012.
eBook ISBN: E-PUB 978-1-61487-154-5
Contents
Part I Can Capitalism Survive?
Chapter 1 Can Capitalism Survive?
Part II The Philosophy of Freedom
Chapter 1 The Case for Economic Freedom
Chapter 2 The Libertarian Philosophy
Chapter 4 Paradise in Posey County
Part III On the Nature of Economics
Chapter 1 Adam Smith: 1776-1976
Smith’s Basic Argument
Smith’s Thinking Applied to the Problems of His Day
Is Smith Still Relevant?
Chapter 2 Christian Economics: Myth or Reality?
Economics as a Pure Science
Economics as Something Less than a Pure Science
Economics as Something More than a Pure Science
Some Basic Assumptions
Christian Economics: A Case Study
Minimum Wages
Trade Unions
Social Security
Redistribution of Income
Under Which Christian Precept Can Force Be Justified?
The Personal Practice of Freedom
If Economists Disagree, Let Christians Be Tolerant
Chapter 3 College Economics: Is It Subversive of Capitalism?
Part IV On the Business System
Introduction
Chapter 1 Profits
Are Profits Now Too High or Too Low?
The Concept of Normal Profits
The Concept of Market Structure
Product Markets
Resource Markets
The Impact of Taxes
Summary
Chapter 2 The Businessman
Part V On Labor Markets
Introduction
Chapter 1 The Labor Monopoly
I Review of Opposing Views
The Human-Relations Approach
The Macroeconomic Approach
The Approach of the Labor Economists
