In the aftermath of the recent economic downturn, numerous commentators
proclaimed the days of free markets to be over.
In Virtues of Capitalism, a very timely and balanced book, Austin Hill and Scott Rae agree with capitalism's critics that the economy is essentially a moral isse, but they argue that free markets are by-and-large the solution to financial disasters rather than the cause. Though they recognize that there are legitimate criticisms of the market system -- and real limits to what it can and should accomplish -- the authors further conclude that capitalism both depends upon and sustains Judeo-Christian virtues better than any of its rival systems.
Thoughtful and engaging, this book pushes against the tide of current public opinion and some of the administration's proposed economic policies with a principled defense of capitalism.
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