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Capitalism and Individualism


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Arguments to support free-market capitalism have usually come from economists and have stressed the efficiency of the economic system as basic to encouraging the production of wealth.

Such arguments assume the essential value of a productive economy, while minimizing the importance of undesirable side-effects, such as wealth inequality and occasional "market failures." In Capitalism and Individualism, Tibor Machan argues that free-market capitalism and its individualist - though by no means "atomist" - underpinnings are morally superior to the alternative live options for organizing human community life. He shows that once the neo-classical and Austrian defenses of capitalism are bolstered with salient moral arguments, the capitalist system can be demonstrated to be more coherent and just than its critics have allowed.

Capitalism and Individualism will be of interest to anyone who wants to examine how capitalismcan indeed be not only productive and efficient, but just and decent as well.