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The Politically Incorrect Guide to Capitalism

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Media type
  
Print

ISBN
  
978-1-59698-504-9

Originally published
  
1 January 2006

Page count
  
206


Pages
  
206

Dewey Decimal
  
330.12/2

OCLC
  
79860752


Series
  
The Politically Incorrect Guide

Subject
  
Economics, capitalism in the United States

Preceded by
  
The Politically Incorrect Guide to Global Warming and Environmentalism

Followed by
  
The Politically Incorrect Guide(tm) to the Constitution

Similar
  
The Politically Incorrect Guide books, Economics books

The Politically Incorrect Guide to Capitalism is a 2007 book by Austrian school economist Robert P. Murphy. It is the ninth book in the Regnery Publishing The Politically Incorrect Guides (P.I.G.) series.

Written as a result of a poll by P.I.G. readers that stated a book on economics, The Politically Incorrect Guide to Capitalism aims to refute what it sees as common misconceptions resulting from Keynesian economics about what capitalism actually is.

The Politically Incorrect Guide to Capitalism argues against criticisms of capitalism, amongst which are:

  • it causes ecological destruction
  • it causes vast income inequality, as well as racism
  • it causes an unpredictable boom and bust cycle
  • Instead, Murphy argues that they result from government efforts to regulate the free market that have the effect of distorting laissez-faire supply and demand that would encourage the most rational allocation of resources possible, as well as their conservation for future generations. For example, with endangered species such as rhinos it is argued that if they were freely traded those who used their parts would have a stake in maintaining supply and conservation would improve (page 49). It is likewise argued that antitrust laws are unnecessary and that the "robber barons" actually benefited the US' poor much more than any government aid has ever done.

    References

    The Politically Incorrect Guide to Capitalism Wikipedia


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